KLA Co. (NASDAQ:KLAC) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of KLA Co. (NASDAQ:KLAC) by 23.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,173 shares of the semiconductor company’s stock after buying an additional 2,088 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in KLA were worth $7,040,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KLAC. Legacy Investment Solutions LLC acquired a new stake in shares of KLA during the third quarter worth approximately $29,000. Tortoise Investment Management LLC grew its position in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after buying an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA in the fourth quarter worth $32,000. Finally, Groupama Asset Managment boosted its holdings in KLA by 82.3% in the third quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,038 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 $710.00 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The company’s 50-day moving average price is $727.78 and its two-hundred day moving average price is $704.39. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32. The stock has a market cap of $94.35 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, sell-side analysts anticipate that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s dividend payout ratio (DPR) is presently 28.60%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of KLA from $700.00 to $760.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Susquehanna raised their target price on KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC raised their target price on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, UBS Group raised their target price on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $830.67.

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.