Commerce Bank Has $5.29 Million Stock Position in KLA Co. (NASDAQ:KLAC)

Commerce Bank lifted its position in shares of KLA Co. (NASDAQ:KLAC) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,828 shares of the semiconductor company’s stock after purchasing an additional 590 shares during the quarter. Commerce Bank’s holdings in KLA were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. bought a new stake in KLA in the 2nd quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in shares of KLA during the 3rd quarter valued at about $38,000. 1620 Investment Advisors Inc. bought a new stake in KLA in the second quarter valued at about $44,000. LRI Investments LLC acquired a new position in KLA in the first quarter worth about $46,000. Finally, Olistico Wealth LLC bought a new position in KLA during the second quarter worth about $53,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KLAC. StockNews.com upgraded KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, The Goldman Sachs Group lifted their price target on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and an average price target of $802.90.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $631.22 on Friday. The stock has a market capitalization of $84.43 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.30 and a beta of 1.29. 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 Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The business has a 50-day moving average price of $712.59 and a two-hundred day moving average price of $760.85.

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

KLA Increases Dividend

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

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.