MML Investors Services LLC Acquires 1,829 Shares of KLA Co. (NASDAQ:KLAC)

MML Investors Services LLC raised its stake in shares of KLA Co. (NASDAQ:KLAC) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,102 shares of the semiconductor company’s stock after acquiring an additional 1,829 shares during the quarter. MML Investors Services LLC’s holdings in KLA were worth $17,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Family Firm Inc. purchased a new position in KLA in the second quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in shares of KLA during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP purchased a new stake in KLA during the third quarter valued at approximately $38,000. 1620 Investment Advisors Inc. acquired a new stake in KLA in the second quarter valued at approximately $44,000. Finally, FSA Wealth Management LLC purchased a new position in KLA in the third quarter worth $53,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of KLA stock opened at $652.37 on Tuesday. The firm has a market cap of $87.26 billion, a PE ratio of 29.79, a P/E/G ratio of 1.38 and a beta of 1.28. KLA Co. has a twelve month low of $542.41 and a twelve month high of $896.32. 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 business has a 50-day moving average price of $684.86 and a 200 day moving average price of $753.35.

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 analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for 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 was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.74 EPS. Sell-side analysts predict that KLA Co. will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KLAC shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Citigroup dropped their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Susquehanna reduced their target price on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Barclays dropped their price target 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. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and an average target price of $812.30.

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.