Brooklyn Investment Group Increases Position in KLA Co. (NASDAQ:KLAC)

Brooklyn Investment Group raised its position in KLA Co. (NASDAQ:KLAC) by 15.5% during the third quarter, HoldingsChannel reports. The firm owned 478 shares of the semiconductor company’s stock after buying an additional 64 shares during the quarter. Brooklyn Investment Group’s holdings in KLA were worth $370,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KLAC. Mizuho Securities USA LLC increased its position in shares of KLA by 32,828.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after purchasing an additional 3,408,617 shares during the last quarter. Swedbank AB acquired a new position in shares of KLA in the 1st quarter valued at $379,678,000. International Assets Investment Management LLC boosted its holdings in shares of KLA by 76,452.4% in the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after buying an additional 301,987 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after buying an additional 235,597 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLAC opened at $631.47 on Wednesday. The company has a 50-day simple moving average of $706.36 and a 200-day simple moving average of $759.85. 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 capitalization of $84.47 billion, a PE ratio of 28.83, a P/E/G ratio of 1.36 and a beta of 1.29. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the firm posted $5.74 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio (DPR) is 31.05%.

Analyst Upgrades and Downgrades

KLAC has been the subject of several research analyst reports. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of KLA in a report on Thursday, October 31st. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Finally, Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, KLA has a consensus rating of “Moderate Buy” and an average price target of $815.55.

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.