Meritage Portfolio Management Reduces Stake in KLA Co. (NASDAQ:KLAC)

Meritage Portfolio Management lessened its holdings in KLA Co. (NASDAQ:KLAC) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 24,117 shares of the semiconductor company’s stock after selling 518 shares during the quarter. KLA comprises 0.9% of Meritage Portfolio Management’s investment portfolio, making the stock its 23rd biggest holding. Meritage Portfolio Management’s holdings in KLA were worth $15,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tectonic Advisors LLC boosted its stake in shares of KLA by 19.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,823 shares of the semiconductor company’s stock worth $1,779,000 after purchasing an additional 456 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in KLA by 8.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,144 shares of the semiconductor company’s stock worth $87,096,000 after buying an additional 10,066 shares during the last quarter. Paragon Capital Management Inc. grew its holdings in KLA by 12.7% in the 4th quarter. Paragon Capital Management Inc. now owns 1,041 shares of the semiconductor company’s stock valued at $656,000 after buying an additional 117 shares during the period. Ninety One UK Ltd increased its stake in shares of KLA by 4.9% during the 4th quarter. Ninety One UK Ltd now owns 62,305 shares of the semiconductor company’s stock valued at $39,260,000 after acquiring an additional 2,906 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in shares of KLA by 1.0% during the 4th quarter. Calamos Wealth Management LLC now owns 1,775 shares of the semiconductor company’s stock worth $1,118,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Up 1.2 %

Shares of KLA stock opened at $749.32 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA Co. has a 1-year low of $595.86 and a 1-year high of $896.32. The business has a 50-day moving average of $680.23 and a 200-day moving average of $715.91. The company has a market capitalization of $100.23 billion, a PE ratio of 31.51, a P/E/G ratio of 1.57 and a beta of 1.28.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, equities analysts forecast that KLA Co. will post 30.8 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.91%. KLA’s dividend payout ratio (DPR) is presently 28.60%.

Analysts Set New Price Targets

KLAC has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Susquehanna upped their price objective on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley boosted their price target on KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group raised their price objective on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC boosted their target price on KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $831.68.

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.