Pathstone Holdings LLC Increases Position in KLA Co. (NASDAQ:KLAC)

Pathstone Holdings LLC raised its holdings in KLA Co. (NASDAQ:KLAC) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,764 shares of the semiconductor company’s stock after purchasing an additional 367 shares during the quarter. Pathstone Holdings LLC’s holdings in KLA were worth $13,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KLAC. Family Firm Inc. purchased a new stake in KLA in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in shares of KLA in the third quarter worth about $38,000. 1620 Investment Advisors Inc. purchased a new stake in shares of KLA during the 2nd quarter worth about $44,000. LRI Investments LLC acquired a new stake in shares of KLA during the 1st quarter valued at about $45,000. Finally, Olistico Wealth LLC purchased a new position in shares of KLA in the 2nd quarter valued at about $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

Shares of KLAC stock opened at $615.66 on Wednesday. The firm has a 50 day moving average of $719.23 and a two-hundred day moving average of $763.35. The stock has a market capitalization of $82.35 billion, a PE ratio of 28.11, a P/E/G ratio of 1.29 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 Co. has a 52 week low of $527.11 and a 52 week high of $896.32.

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

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio is presently 26.48%.

Analyst Upgrades and Downgrades

Several analysts have commented on KLAC shares. Evercore ISI raised their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays reduced their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Argus lifted their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and increased their target price for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Finally, UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $802.90.

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.