Edgestream Partners L.P. Grows Stock Position in KLA Co. (NASDAQ:KLAC)

Edgestream Partners L.P. boosted its holdings in KLA Co. (NASDAQ:KLAC) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,331 shares of the semiconductor company’s stock after acquiring an additional 18 shares during the period. Edgestream Partners L.P.’s holdings in KLA were worth $6,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mizuho Securities USA LLC increased its stake in shares of KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after purchasing an additional 3,408,617 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in KLA by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock valued at $2,318,329,000 after buying an additional 28,172 shares during the last quarter. Van ECK Associates Corp increased its position in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after buying an additional 286,015 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of KLA by 1.9% in the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock worth $959,695,000 after acquiring an additional 21,412 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in shares of KLA by 5.5% in the third quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock worth $732,464,000 after acquiring an additional 49,470 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Citigroup lowered their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and an average price target of $815.55.

KLA Price Performance

KLAC opened at $647.03 on Friday. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32. The company has a 50 day moving average of $699.34 and a two-hundred day moving average of $757.61. The company has a market cap of $86.55 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.33 and a beta of 1.29. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

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

KLA Increases Dividend

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

About KLA

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.