BNP Paribas Boosts Stake in KLA Co. (NASDAQ:KLAC)

BNP Paribas grew its holdings in KLA Co. (NASDAQ:KLAC) by 44.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,510 shares of the semiconductor company’s stock after buying an additional 773 shares during the period. BNP Paribas’ holdings in KLA were worth $1,944,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KLAC. Healthcare of Ontario Pension Plan Trust Fund lifted its position in KLA by 130.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 228,962 shares of the semiconductor company’s stock valued at $177,310,000 after buying an additional 129,761 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of KLA in the 3rd quarter valued at approximately $827,000. Glenmede Trust Co. NA lifted its holdings in shares of KLA by 1.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 32,668 shares of the semiconductor company’s stock worth $25,298,000 after acquiring an additional 403 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of KLA by 99.6% during the 3rd quarter. Bridgewater Associates LP now owns 201,482 shares of the semiconductor company’s stock worth $156,030,000 after purchasing an additional 100,516 shares during the period. Finally, Townsquare Capital LLC increased its holdings in KLA by 60.4% in the 3rd quarter. Townsquare Capital LLC now owns 2,705 shares of the semiconductor company’s stock valued at $2,095,000 after purchasing an additional 1,019 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Down 2.0 %

KLA stock opened at $631.47 on Wednesday. The stock’s fifty day moving average is $706.36 and its two-hundred day moving average is $759.85. The stock has a market cap of $84.47 billion, a PE ratio of 28.83, a P/E/G ratio of 1.36 and a beta of 1.29. KLA Co. has a 1-year low of $527.11 and a 1-year 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.

KLA (NASDAQ:KLAC) last announced its quarterly 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. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.74 earnings per share. On average, sell-side analysts expect 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 given a $1.70 dividend. The ex-dividend date is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. KLA’s payout ratio is 31.05%.

Wall Street Analyst Weigh In

A number of research firms have commented on KLAC. StockNews.com upgraded KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Susquehanna decreased their target price on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Citigroup reduced their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $815.55.

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.