Fisher Asset Management LLC Acquires 5,096 Shares of KLA Co. (NASDAQ:KLAC)

Fisher Asset Management LLC grew its holdings in KLA Co. (NASDAQ:KLAC) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 68,395 shares of the semiconductor company’s stock after purchasing an additional 5,096 shares during the period. Fisher Asset Management LLC owned approximately 0.05% of KLA worth $52,966,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Daiwa Securities Group Inc. grew its position in KLA by 14.1% in the third quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock valued at $25,722,000 after acquiring an additional 4,112 shares during the last quarter. Marco Investment Management LLC grew its holdings in shares of KLA by 1.4% during the 3rd quarter. Marco Investment Management LLC now owns 23,617 shares of the semiconductor company’s stock valued at $18,289,000 after purchasing an additional 328 shares during the last quarter. Hartford Funds Management Co LLC increased its position in KLA by 3.6% during the 3rd quarter. Hartford Funds Management Co LLC now owns 1,058 shares of the semiconductor company’s stock worth $820,000 after purchasing an additional 37 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in KLA by 53.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 1,046 shares of the semiconductor company’s stock valued at $810,000 after purchasing an additional 365 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its position in KLA by 30.1% in the third quarter. Centaurus Financial Inc. now owns 688 shares of the semiconductor company’s stock valued at $533,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

Shares of KLAC opened at $631.47 on Wednesday. The firm has a market cap of $84.47 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. KLA Co. has a 52-week low of $527.11 and a 52-week 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 business’s 50 day moving average price is $706.36 and its two-hundred day moving average price is $759.85.

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

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid 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 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is 31.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KLAC. UBS Group dropped their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft cut their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Barclays lowered their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Finally, TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus target price of $815.55.

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.