Wedge Capital Management L L P NC grew its position in KLA Co. (NASDAQ:KLAC - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,804 shares of the semiconductor company's stock after acquiring an additional 26,757 shares during the period. KLA comprises about 1.2% of Wedge Capital Management L L P NC's portfolio, making the stock its 12th largest holding. Wedge Capital Management L L P NC owned 0.08% of KLA worth $66,039,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of KLAC. Legacy Investment Solutions LLC acquired a new position in KLA during the third quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new position in shares of KLA during the 3rd quarter worth approximately $38,000. FSA Wealth Management LLC bought a new stake in KLA in the 3rd quarter valued at $53,000. Peterson Financial Group Inc. acquired a new stake in KLA during the 3rd quarter valued at $56,000. Finally, Prospera Private Wealth LLC bought a new position in KLA during the third quarter worth $58,000. 86.65% of the stock is owned by institutional investors.
Shares of KLAC stock opened at $757.47 on Friday. KLA Co. has a fifty-two week low of $577.00 and a fifty-two week high of $896.32. The stock's fifty day moving average price is $654.99 and its two-hundred day moving average price is $726.15. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company has a market cap of $101.32 billion, a PE ratio of 34.59, a P/E/G ratio of 1.47 and a beta of 1.27.
KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. KLA's revenue 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. Equities analysts predict that KLA Co. will post 30.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 0.90%. This is a boost from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA's dividend payout ratio is currently 31.05%.
Several analysts recently commented on KLAC shares. The Goldman Sachs Group reduced their target price on shares of KLA from $850.00 to $759.00 and set a "buy" rating for the company in a report on Friday, January 10th. TD Cowen decreased their target price on KLA from $760.00 to $725.00 and set a "hold" rating on the stock in a research report on Thursday, October 31st. Oppenheimer raised KLA from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on KLA from $800.00 to $795.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Needham & Company LLC raised KLA from a "hold" rating to a "buy" rating and set a $750.00 target price for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, KLA presently has an average rating of "Moderate Buy" and an average target price of $806.60.
View Our Latest Analysis on KLAC
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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