Passumpsic Savings Bank Has $981,000 Stock Holdings in KLA Co. (NASDAQ:KLAC)

Passumpsic Savings Bank lifted its stake in KLA Co. (NASDAQ:KLAC) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,267 shares of the semiconductor company’s stock after acquiring an additional 80 shares during the period. Passumpsic Savings Bank’s holdings in KLA were worth $981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC boosted its stake in KLA by 32,828.8% during the third 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 in the last quarter. International Assets Investment Management LLC raised its holdings in KLA by 76,452.4% during the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after purchasing an additional 301,987 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 purchasing an additional 286,015 shares during the period. Assenagon Asset Management S.A. grew its position in shares of KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after purchasing an additional 235,597 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in KLA by 10,766.7% in the 3rd quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after acquiring an additional 226,100 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KLAC shares. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and increased their price target for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Morgan Stanley decreased their price objective on KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a report on Thursday, December 5th. Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on shares of KLA from $870.00 to $800.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $812.30.

KLA Price Performance

Shares of KLAC opened at $648.95 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The business’s fifty day moving average is $684.86 and its 200 day moving average is $753.35. KLA Co. has a 12-month low of $542.41 and a 12-month high of $896.32. The stock has a market cap of $86.80 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.38 and a beta of 1.28.

KLA (NASDAQ:KLAC) last issued 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. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $5.74 EPS. The business’s revenue was up 18.5% on a year-over-year basis. Sell-side analysts anticipate that KLA Co. will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.05%. KLA’s dividend payout ratio (DPR) is 31.05%.

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.