Dakota Wealth Management Trims Position in KLA Co. (NASDAQ:KLAC)

by · The Cerbat Gem

Dakota Wealth Management trimmed its stake in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 896,177 shares of the semiconductor company’s stock after selling 1,778 shares during the quarter. KLA accounts for approximately 13.0% of Dakota Wealth Management’s portfolio, making the stock its largest position. Dakota Wealth Management’s holdings in KLA were worth $564,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp lifted its holdings in KLA by 2.5% in the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock worth $4,630,424,000 after buying an additional 145,317 shares during the period. Mizuho Securities USA LLC lifted its holdings in KLA by 32,828.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after buying an additional 3,408,617 shares during the period. Geode Capital Management LLC lifted its holdings in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock worth $2,487,971,000 after buying an additional 93,743 shares during the period. Van ECK Associates Corp lifted its holdings in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after buying an additional 286,015 shares during the period. Finally, Legal & General Group Plc lifted its holdings in KLA by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock worth $959,695,000 after buying an additional 21,412 shares during the period. 86.65% of the stock is currently owned by institutional investors.

KLA Trading Up 1.3 %

Shares of NASDAQ KLAC opened at $767.24 on Wednesday. The stock has a market capitalization of $102.63 billion, a P/E ratio of 35.03, a PEG ratio of 1.63 and a beta of 1.27. The business’s 50 day moving average is $656.82 and its two-hundred day moving average is $723.78. KLA Co. has a 1-year low of $581.70 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 – Get Free Report) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.74 earnings per share. As a group, research analysts expect that KLA Co. will post 30.37 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 0.89%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 31.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KLAC. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered their price objective on KLA from $850.00 to $759.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $807.35.

View Our Latest Analysis on KLA

KLA Company Profile

(Free Report)

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.

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