OLD National Bancorp IN Lowers Stake in KLA Co. (NASDAQ:KLAC)

OLD National Bancorp IN cut its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,164 shares of the semiconductor company's stock after selling 1,069 shares during the period. KLA makes up 0.9% of OLD National Bancorp IN's holdings, making the stock its 19th biggest holding. OLD National Bancorp IN's holdings in KLA were worth $37,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of KLA during the third quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in KLA in the 3rd quarter worth about $38,000. FSA Wealth Management LLC bought a new stake in KLA in the 3rd quarter worth about $53,000. Peterson Financial Group Inc. bought a new stake in KLA in the 3rd quarter worth about $56,000. Finally, Prospera Private Wealth LLC bought a new stake in KLA in the 3rd quarter worth about $58,000. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

Shares of KLAC stock traded down $4.19 during trading on Friday, reaching $738.24. 1,631,879 shares of the company's stock traded hands, compared to its average volume of 1,308,427. The company has a market capitalization of $98.75 billion, a P/E ratio of 33.71, a PEG ratio of 1.54 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The firm's 50-day moving average is $673.99 and its 200 day moving average is $718.67. KLA Co. has a 1 year low of $581.70 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, beating analysts' consensus estimates of $7.73 by $0.47. KLA had a net margin of 28.92% and a return on equity of 105.16%. Equities research analysts expect that KLA Co. will post 30.34 EPS for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from KLA's previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 0.92%. KLA's dividend payout ratio is currently 31.05%.

Analyst Ratings Changes

A number of brokerages have issued reports on KLAC. Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Susquehanna upped their price objective on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price objective on shares of KLA from $746.00 to $703.00 and set an "equal weight" rating for the company in a research report on Thursday, December 5th. Needham & Company LLC upped their price objective on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus increased their target price on shares of KLA from $800.00 to $825.00 and gave the company a "buy" rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $829.32.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.