Metis Global Partners LLC Raises Stock Position in KLA Co. (NASDAQ:KLAC)

Metis Global Partners LLC increased its position in shares of KLA Co. (NASDAQ:KLAC) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,614 shares of the semiconductor company’s stock after acquiring an additional 200 shares during the period. Metis Global Partners LLC’s holdings in KLA were worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of KLA during the 2nd quarter valued at about $30,000. Cedar Wealth Management LLC lifted its position in KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in KLA in the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA in the 2nd quarter worth $44,000. Finally, LRI Investments LLC purchased a new stake in shares of KLA during the 1st quarter valued at $46,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Up 0.1 %

KLAC opened at $645.00 on Friday. The company has a market capitalization of $86.28 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The firm has a 50-day simple moving average of $724.45 and a two-hundred day simple moving average of $764.10. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating 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 analyst estimates of $2.75 billion. During the same period last year, the firm posted $5.74 earnings per share. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. Analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. KLA’s payout ratio is 26.48%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen cut their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Citigroup reduced their price objective on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Evercore ISI raised their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, KLA 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.