Meritage Portfolio Management Cuts Holdings in KLA Co. (NASDAQ:KLAC)

Meritage Portfolio Management decreased its position in KLA Co. (NASDAQ:KLAC) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,635 shares of the semiconductor company’s stock after selling 257 shares during the period. KLA accounts for 1.2% of Meritage Portfolio Management’s investment portfolio, making the stock its 14th biggest holding. Meritage Portfolio Management’s holdings in KLA were worth $19,077,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KLAC. Swedbank AB boosted its position in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after purchasing an additional 2,019 shares during the last quarter. Community Financial Services Group LLC boosted its holdings in shares of KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after buying an additional 6,279 shares during the last quarter. Eastern Bank grew its position in KLA by 655.8% during the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares during the period. Sei Investments Co. increased its holdings in KLA by 16.0% during the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after buying an additional 10,594 shares during the last quarter. Finally, Generate Investment Management Ltd raised its position in KLA by 39.0% in the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after acquiring an additional 1,651 shares during the period. Institutional investors own 86.65% of the company’s stock.

KLA Trading Up 0.2 %

NASDAQ:KLAC traded up $1.26 during midday trading on Friday, reaching $687.41. 1,278,083 shares of the stock traded hands, compared to its average volume of 1,220,755. The stock has a market capitalization of $91.95 billion, a P/E ratio of 31.39, a PEG ratio of 1.41 and a beta of 1.29. KLA Co. has a 12 month low of $505.50 and a 12 month high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company has a fifty day moving average of $731.06 and a 200 day moving average 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, beating analysts’ consensus estimates of $7.03 by $0.30. The business 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%. KLA’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.74 EPS. On average, research analysts predict that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed 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 0.99%. This is a boost 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 26.48%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and increased their target price for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Evercore ISI raised their target price on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group increased their price target on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays lowered their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Argus lifted their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

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.