KLA Co. (NASDAQ:KLAC) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co lifted its position in KLA Co. (NASDAQ:KLAC) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,555 shares of the semiconductor company’s stock after purchasing an additional 182 shares during the quarter. Fiduciary Trust Co’s holdings in KLA were worth $35,279,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Family Firm Inc. acquired a new position in KLA in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA in the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA in the second quarter worth $44,000. LRI Investments LLC purchased a new position in shares of KLA during the first quarter worth $45,000. Finally, Olistico Wealth LLC acquired a new position in KLA during the second quarter valued at $53,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $632.14 on Thursday. The company has a 50-day simple moving average of $704.38 and a 200-day simple moving average of $758.96. 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 Co. has a 12 month low of $527.11 and a 12 month high of $896.32.

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

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s payout ratio is currently 31.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KLAC. UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup decreased their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $815.55.

KLA 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.