Cornerstone Investment Partners LLC Purchases 9,791 Shares of KLA Co. (NASDAQ:KLAC)

Cornerstone Investment Partners LLC raised its position in shares of KLA Co. (NASDAQ:KLAC) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,547 shares of the semiconductor company’s stock after purchasing an additional 9,791 shares during the period. KLA accounts for approximately 2.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 24th largest holding. Cornerstone Investment Partners LLC’s holdings in KLA were worth $42,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KLAC. Hutchens & Kramer Investment Management Group LLC increased its holdings in shares of KLA by 3.3% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock worth $259,000 after buying an additional 13 shares during the period. Richardson Financial Services Inc. grew its stake in shares of KLA by 5.9% in the fourth quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 14 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of KLA by 6.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company’s stock worth $155,000 after purchasing an additional 15 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of KLA by 2.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 15 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of KLA by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 16 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on KLAC shares. Barclays raised their target price on KLA from $700.00 to $760.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Needham & Company LLC raised their target price on KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. UBS Group raised their target price on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Stifel Nicolaus raised their target price on KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and a consensus target price of $831.68.

KLA Price Performance

Shares of KLAC opened at $691.15 on Tuesday. The firm has a market cap of $91.84 billion, a PE ratio of 29.06, a P/E/G ratio of 1.57 and a beta of 1.28. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $717.73 and a two-hundred day simple moving average of $713.28. KLA Co. has a 1-year low of $609.40 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 0.98%. KLA’s dividend payout ratio (DPR) is 28.60%.

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.