KLA Co. (KLAC) to Issue Quarterly Dividend of $1.70 on December 3rd

KLA Co. (NASDAQ:KLAC) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Monday, November 18th will be given a dividend of 1.70 per share by the semiconductor company on Tuesday, December 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45.

KLA has increased its dividend by an average of 15.2% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. KLA has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Analysts expect KLA to earn $32.29 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 21.1%.

KLA Trading Down 4.7 %

NASDAQ KLAC opened at $614.46 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA has a 1-year low of $527.11 and a 1-year high of $896.32. The firm’s fifty day simple moving average is $721.02 and its 200-day simple moving average is $762.59. The company has a market capitalization of $82.19 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued 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. The company 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 business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.74 EPS. As a group, sell-side analysts anticipate that KLA will post 30.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on KLAC shares. TD Cowen decreased their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Argus increased their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, UBS Group dropped their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Company 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.