Meritage Portfolio Management Cuts Stake in KLA Co. (NASDAQ:KLAC)

Meritage Portfolio Management cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,117 shares of the semiconductor company’s stock after selling 518 shares during the period. KLA accounts for approximately 0.9% of Meritage Portfolio Management’s investment portfolio, making the stock its 23rd biggest holding. Meritage Portfolio Management’s holdings in KLA were worth $15,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KLAC. CVA Family Office LLC boosted its stake in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC raised its position in shares of KLA by 3.3% during the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 13 shares during the last quarter. Richardson Financial Services Inc. lifted its position in shares of KLA by 5.9% in the fourth quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company’s stock valued at $160,000 after acquiring an additional 14 shares in the last quarter. Marcum Wealth LLC boosted its stake in KLA by 4.1% during the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in KLA by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 16 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KLAC has been the topic of a number of recent research reports. UBS Group boosted their price objective on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of KLA from $800.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Barclays lifted their price target on shares of KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus price target of $831.68.

KLA Stock Performance

Shares of KLAC opened at $749.32 on Wednesday. KLA Co. has a 1 year low of $595.86 and a 1 year high of $896.32. The stock has a 50-day simple moving average of $680.23 and a 200-day simple moving average of $715.91. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The stock has a market capitalization of $100.23 billion, a PE ratio of 31.51, a PEG ratio of 1.57 and a beta of 1.28.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, analysts predict that KLA Co. will post 30.8 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 0.91%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 28.60%.

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.