KLA Co. (NASDAQ:KLAC) Position Lifted by Mizuho Securities USA LLC

Mizuho Securities USA LLC boosted its position in shares of KLA Co. (NASDAQ:KLAC) by 32,828.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,419,000 shares of the semiconductor company’s stock after buying an additional 3,408,617 shares during the period. KLA accounts for about 6.9% of Mizuho Securities USA LLC’s portfolio, making the stock its 4th largest holding. Mizuho Securities USA LLC owned 2.56% of KLA worth $2,647,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cedar Wealth Management LLC boosted its holdings in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. purchased a new stake in KLA in the 2nd quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in shares of KLA in the 3rd quarter worth $38,000. 1620 Investment Advisors Inc. purchased a new position in shares of KLA during the 2nd quarter worth $44,000. Finally, LRI Investments LLC purchased a new stake in shares of KLA in the first quarter valued at about $45,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Down 4.7 %

NASDAQ KLAC opened at $614.46 on Friday. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32. The firm has a 50 day moving average of $721.02 and a two-hundred day moving average of $762.59. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $82.19 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $5.74 earnings per share. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, research analysts expect that KLA Co. will post 30.91 EPS for the current fiscal 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 paid a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.11%. KLA’s payout ratio is presently 26.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Argus increased their price target on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. 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 report on Thursday, October 31st. Finally, UBS Group dropped their price target 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average target price of $802.90.

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.