277 Shares in KLA Co. (NASDAQ:KLAC) Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc bought a new position in KLA Co. (NASDAQ:KLAC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 277 shares of the semiconductor company’s stock, valued at approximately $215,000.

A number of other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in shares of KLA by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after buying an additional 28,172 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in KLA by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock valued at $1,829,352,000 after purchasing an additional 71,289 shares during the period. Van ECK Associates Corp raised its position in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares during the period. Legal & General Group Plc raised its position in KLA by 1.9% during the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after purchasing an additional 21,412 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in KLA by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 691,039 shares of the semiconductor company’s stock valued at $569,758,000 after purchasing an additional 56,109 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Down 4.7 %

Shares of NASDAQ:KLAC opened at $614.46 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 stock has a market cap of $82.19 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The business’s 50 day moving average is $722.79 and its 200 day moving average is $763.28. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $5.74 EPS. Sell-side analysts predict that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is 26.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Susquehanna decreased their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. UBS Group decreased their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Evercore ISI upped their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen cut their target price on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $802.90.

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.