KLA Co. (NASDAQ:KLAC) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its position in KLA Co. (NASDAQ:KLAC) by 17.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 306,382 shares of the semiconductor company’s stock after buying an additional 44,992 shares during the period. Bank of Montreal Can’s holdings in KLA were worth $239,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Tidal Investments LLC lifted its stake in shares of KLA by 9.2% in the 1st quarter. Tidal Investments LLC now owns 6,824 shares of the semiconductor company’s stock valued at $4,766,000 after purchasing an additional 577 shares in the last quarter. Vista Investment Partners LLC lifted its position in KLA by 0.5% during the first quarter. Vista Investment Partners LLC now owns 12,426 shares of the semiconductor company’s stock valued at $8,680,000 after buying an additional 63 shares in the last quarter. Plato Investment Management Ltd grew its stake in KLA by 358.6% during the first quarter. Plato Investment Management Ltd now owns 6,420 shares of the semiconductor company’s stock worth $4,485,000 after buying an additional 5,020 shares during the period. Heartland Bank & Trust Co acquired a new stake in shares of KLA in the first quarter worth $1,112,000. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of KLA in the 1st quarter valued at $250,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KLAC shares. TD Cowen lowered their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Barclays reduced their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Susquehanna reduced their target price on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average target price of $815.55.

KLA Stock Performance

KLA stock opened at $644.67 on Tuesday. The company has a market cap of $86.23 billion, a PE ratio of 29.44, a P/E/G ratio of 1.35 and a beta of 1.29. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The company has a fifty day moving average price of $708.52 and a two-hundred day moving average price of $760.47. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

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 analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 EPS. Research analysts expect that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. 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.