Progressive Investment Management Corp Has $5.16 Million Holdings in KLA Co. (NASDAQ:KLAC)

Progressive Investment Management Corp trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,662 shares of the semiconductor company’s stock after selling 46 shares during the quarter. KLA accounts for 1.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 25th biggest holding. Progressive Investment Management Corp’s holdings in KLA were worth $5,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mizuho Securities USA LLC increased its position 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 purchasing an additional 3,408,617 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of KLA by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after buying an additional 28,172 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of KLA by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock valued at $1,829,352,000 after purchasing an additional 71,289 shares during the last quarter. Van ECK Associates Corp grew 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 valued at $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Finally, Legal & General Group Plc increased its position in KLA by 1.9% during the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock worth $959,695,000 after acquiring an additional 21,412 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KLAC. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, Evercore ISI boosted their price target on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Stock Performance

NASDAQ:KLAC opened at $612.00 on Wednesday. The stock has a market cap of $81.86 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The stock’s 50-day moving average is $717.28 and its 200-day moving average is $762.78. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm earned $5.74 earnings per share. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is presently 26.48%.

KLA 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.