Equitable Trust Co. Raises Holdings in KLA Co. (NASDAQ:KLAC)

Equitable Trust Co. grew its position in shares of KLA Co. (NASDAQ:KLAC) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,119 shares of the semiconductor company’s stock after purchasing an additional 95 shares during the period. Equitable Trust Co.’s holdings in KLA were worth $867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital Market Strategies LLC grew its position in shares of KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC grew its position in KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 13 shares in the last quarter. HBW Advisory Services LLC grew its position in KLA by 2.6% in the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 14 shares in the last quarter. TIAA Trust National Association grew its position in KLA by 0.4% in the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 14 shares in the last quarter. Finally, AA Financial Advisors LLC grew its position in KLA by 2.7% in the second quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

KLAC has been the subject of several recent research reports. Susquehanna dropped their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Evercore ISI lifted their price target on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. TD Cowen decreased their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup decreased their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Trading Up 0.2 %

KLAC opened at $687.41 on Friday. The firm has a market cap of $91.95 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.41 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a 12 month low of $505.50 and a 12 month high of $896.32. The stock has a fifty day moving average price of $731.06 and a 200-day moving average price of $763.72.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.74 EPS. As a group, equities research analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is currently 26.48%.

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.