Primecap Management Co. CA Sells 116,950 Shares of KLA Co. (NASDAQ:KLAC)

Primecap Management Co. CA decreased its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,184,569 shares of the semiconductor company's stock after selling 116,950 shares during the quarter. KLA accounts for about 2.5% of Primecap Management Co. CA's holdings, making the stock its 6th largest holding. Primecap Management Co. CA owned 3.90% of KLA worth $3,266,901,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company's stock worth $4,630,424,000 after purchasing an additional 145,317 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of KLA by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company's stock valued at $2,487,971,000 after acquiring an additional 93,743 shares during the last quarter. Amundi lifted its position in shares of KLA by 9.4% in the fourth quarter. Amundi now owns 1,394,260 shares of the semiconductor company's stock valued at $953,774,000 after acquiring an additional 119,845 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of KLA by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,153,043 shares of the semiconductor company's stock worth $726,555,000 after acquiring an additional 64,238 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in shares of KLA by 5.5% in the third quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company's stock worth $732,464,000 after acquiring an additional 49,470 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Remove Ads

KLA Stock Down 1.4 %

Shares of NASDAQ KLAC traded down $9.97 during midday trading on Friday, hitting $706.49. The company's stock had a trading volume of 2,454,762 shares, compared to its average volume of 953,125. KLA Co. has a 1 year low of $609.40 and a 1 year high of $896.32. The business's fifty day simple moving average is $729.05 and its two-hundred day simple moving average is $704.58. The firm has a market capitalization of $93.88 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, equities analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, February 24th. KLA's dividend payout ratio is presently 28.60%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley raised their price objective on KLA from $703.00 to $748.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Needham & Company LLC boosted their price target on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price target on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald lifted their price objective on KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of "Moderate Buy" and an average price target of $830.67.

About KLA

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.