Gibraltar Capital Management Inc. Boosts Position in KLA Co. (NASDAQ:KLAC)

Gibraltar Capital Management Inc. raised its holdings in shares of KLA Co. (NASDAQ:KLAC) by 2,248.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,744 shares of the semiconductor company’s stock after buying an additional 11,244 shares during the period. KLA comprises 3.3% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Gibraltar Capital Management Inc.’s holdings in KLA were worth $7,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mizuho Securities USA LLC grew its stake in shares of KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares in the last quarter. Van ECK Associates Corp grew its position in shares of KLA by 25.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Two Sigma Advisers LP raised its stake in KLA by 10,766.7% during the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock worth $176,720,000 after acquiring an additional 226,100 shares during the period. Assenagon Asset Management S.A. lifted its holdings in KLA by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 441,053 shares of the semiconductor company’s stock worth $277,916,000 after acquiring an additional 201,649 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in KLA in the third quarter valued at approximately $128,482,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

KLAC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Needham & Company LLC boosted their price objective on KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their target price on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Susquehanna lifted their target price on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus target price of $831.68.

KLA Trading Down 1.7 %

NASDAQ:KLAC opened at $724.97 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company has a market capitalization of $96.34 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.57 and a beta of 1.28. The stock’s 50 day moving average price is $711.58 and its 200 day moving average price is $715.70. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results 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 net margin of 29.58% and a return on equity of 108.60%. On average, research analysts forecast that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be issued a $1.70 dividend. The ex-dividend date is Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.94%. KLA’s dividend payout ratio (DPR) is currently 28.60%.

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.