KLA Co. (NASDAQ:KLAC) Declares Quarterly Dividend of $1.70

KLA Co. (NASDAQ:KLAC) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders of record on Monday, November 18th will be given a dividend of 1.70 per share by the semiconductor company on Tuesday, December 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45.

KLA has raised its dividend by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. KLA has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KLA to earn $32.29 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 21.1%.

KLA Trading Down 4.7 %

KLAC stock opened at $614.46 on Friday. KLA has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The stock has a market capitalization of $82.19 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 1.29. 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 business has a fifty day moving average price of $721.02 and a 200 day moving average price of $762.59.

KLA (NASDAQ:KLAC) last issued its quarterly 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. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.74 earnings per share. Analysts expect that KLA will post 30.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Susquehanna reduced their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Wells Fargo & Company reduced 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.