KLA Co. (NASDAQ:KLAC) is Patton Albertson Miller Group LLC’s 9th Largest Position

Patton Albertson Miller Group LLC trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,673 shares of the semiconductor company’s stock after selling 728 shares during the quarter. KLA makes up about 1.5% of Patton Albertson Miller Group LLC’s holdings, making the stock its 9th biggest position. Patton Albertson Miller Group LLC’s holdings in KLA were worth $11,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KLAC. Swedbank AB lifted its position in KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after acquiring an additional 2,019 shares during the period. Community Financial Services Group LLC increased its stake in KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after buying an additional 6,279 shares during the period. Eastern Bank raised its position in KLA by 655.8% during the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after buying an additional 23,747 shares during the last quarter. ING Groep NV lifted its stake in shares of KLA by 52.4% in the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after acquiring an additional 27,436 shares during the period. Finally, Generate Investment Management Ltd boosted its holdings in shares of KLA by 39.0% in the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock valued at $4,555,000 after acquiring an additional 1,651 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Citigroup dropped their price objective on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Finally, Susquehanna cut their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

KLA Price Performance

NASDAQ:KLAC opened at $644.67 on Tuesday. The firm has a market cap of $86.23 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth 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 current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average is $708.52 and its two-hundred day moving average is $760.47.

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

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.05%. KLA’s dividend payout ratio is 31.05%.

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.