Raymond James Trust N.A. Buys 292 Shares of KLA Co. (NASDAQ:KLAC)

Raymond James Trust N.A. raised its stake in KLA Co. (NASDAQ:KLAC) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,570 shares of the semiconductor company’s stock after purchasing an additional 292 shares during the period. Raymond James Trust N.A.’s holdings in KLA were worth $1,990,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in KLA during the 1st quarter valued at $46,000. Mount Yale Investment Advisors LLC increased its position in shares of KLA by 2.4% during the first quarter. Mount Yale Investment Advisors LLC now owns 2,280 shares of the semiconductor company’s stock worth $1,593,000 after acquiring an additional 54 shares in the last quarter. Ascent Group LLC lifted its position in KLA by 35.5% in the 1st quarter. Ascent Group LLC now owns 2,184 shares of the semiconductor company’s stock valued at $1,526,000 after acquiring an additional 572 shares in the last quarter. Caxton Associates LP boosted its stake in KLA by 3.7% during the 1st quarter. Caxton Associates LP now owns 2,853 shares of the semiconductor company’s stock valued at $1,993,000 after purchasing an additional 103 shares during the last quarter. Finally, Benchmark Investment Advisors LLC increased its holdings in KLA by 259.3% during the 1st quarter. Benchmark Investment Advisors LLC now owns 3,888 shares of the semiconductor company’s stock worth $2,716,000 after purchasing an additional 2,806 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

NASDAQ KLAC opened at $639.55 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a market cap of $85.55 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32. The firm’s 50-day simple moving average is $710.36 and its two-hundred day simple moving average is $760.62.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company posted $5.74 EPS. KLA’s revenue was up 18.5% compared to the same quarter last year. Research analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.06%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. KLA’s payout ratio is presently 31.05%.

Analysts Set New Price Targets

Several research analysts recently issued reports on KLAC shares. Wells Fargo & Company cut their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup cut their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Barclays lowered their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. 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. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

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.