KLA Co. (NASDAQ:KLAC) Shares Bought by AMG National Trust Bank

AMG National Trust Bank lifted its stake in shares of KLA Co. (NASDAQ:KLAC) by 142.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 686 shares of the semiconductor company’s stock after acquiring an additional 403 shares during the period. AMG National Trust Bank’s holdings in KLA were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Family Firm Inc. acquired a new stake in shares of KLA during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new position in shares of KLA during the third quarter valued at approximately $38,000. 1620 Investment Advisors Inc. acquired a new stake in KLA during the second quarter worth approximately $44,000. LRI Investments LLC purchased a new stake in KLA in the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC purchased a new position in shares of KLA during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

KLA stock opened at $615.66 on Wednesday. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market capitalization of $82.35 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The firm’s fifty day moving average price is $719.23 and its 200 day moving average price is $763.35.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations 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. On average, research analysts forecast that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

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

Wall Street Analyst Weigh In

KLAC has been the subject of a number of recent analyst reports. TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Barclays lowered their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Susquehanna cut their target price on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.