KLA Co. (NASDAQ:KLAC) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,668 shares of the semiconductor company’s stock after purchasing an additional 403 shares during the period. Glenmede Trust Co. NA’s holdings in KLA were worth $25,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KLAC. Mizuho Securities USA LLC boosted its holdings in shares of KLA by 32,828.8% in the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after buying an additional 3,408,617 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in KLA by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after purchasing an additional 28,172 shares during the period. Van ECK Associates Corp boosted its stake in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after purchasing an additional 286,015 shares during the period. Legal & General Group Plc raised its stake in KLA by 1.9% during the 2nd 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, Charles Schwab Investment Management Inc. boosted its position in shares of KLA by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 826,954 shares of the semiconductor company’s stock worth $640,401,000 after buying an additional 13,038 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

Shares of KLA stock opened at $632.14 on Thursday. The firm has a fifty day moving average price of $704.38 and a two-hundred day moving average price of $758.96. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market cap of $84.56 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued its quarterly 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 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 company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.74 earnings per share. Analysts expect that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. KLA’s dividend payout ratio (DPR) is currently 31.05%.

Analysts Set New Price Targets

KLAC has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. UBS Group decreased their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays cut their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup lowered their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company dropped their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, KLA currently has a consensus 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.