Alkeon Capital Management LLC Has $732.46 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Alkeon Capital Management LLC grew its position in shares of KLA Co. (NASDAQ:KLAC) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 945,835 shares of the semiconductor company’s stock after buying an additional 49,470 shares during the period. KLA comprises 1.3% of Alkeon Capital Management LLC’s portfolio, making the stock its 8th largest position. Alkeon Capital Management LLC’s holdings in KLA were worth $732,464,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Market Strategies LLC lifted its stake in KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC lifted its position in shares of KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the last quarter. HBW Advisory Services LLC boosted its holdings in shares of KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares during the period. TIAA Trust National Association grew its position in shares of KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after buying an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC grew its position in shares of KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on KLAC shares. Deutsche Bank Aktiengesellschaft decreased 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. Wells Fargo & Company reduced their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. UBS Group dropped their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Susquehanna lowered their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $815.55.

KLA Stock Performance

NASDAQ:KLAC opened at $632.14 on Friday. The company has a 50-day moving average of $701.57 and a 200-day moving average of $758.08. The firm has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.33 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 twelve month low of $527.11 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last issued its 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 for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $5.74 earnings per share. Analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a dividend of $1.70 per share. 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 dividend on an annualized basis and a dividend yield of 1.08%. KLA’s payout ratio 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.