Berkshire Bank Has $309,000 Stock Position in KLA Co. (NASDAQ:KLAC)

Berkshire Bank increased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 491 shares of the semiconductor company’s stock after buying an additional 21 shares during the quarter. Berkshire Bank’s holdings in KLA were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new stake in KLA during the 2nd quarter worth approximately $218,000. Ascent Group LLC lifted its position in KLA by 16.6% in the 2nd quarter. Ascent Group LLC now owns 2,546 shares of the semiconductor company’s stock valued at $2,099,000 after acquiring an additional 362 shares in the last quarter. Algert Global LLC acquired a new position in KLA in the 2nd quarter worth $239,000. Silver Lake Advisory LLC bought a new position in KLA during the 2nd quarter worth about $202,000. Finally, NewEdge Advisors LLC raised its stake in shares of KLA by 35.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,117 shares of the semiconductor company’s stock valued at $11,640,000 after purchasing an additional 3,691 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KLAC has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 5th. Barclays dropped their target price on KLA from $750.00 to $700.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and raised their price target for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective on the stock in a research note on Monday, January 13th. Finally, Susquehanna raised their target price on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.47.

KLA Stock Down 6.3 %

KLAC opened at $702.71 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The stock has a fifty day moving average of $666.45 and a 200-day moving average of $720.69. KLA Co. has a fifty-two week low of $581.70 and a fifty-two week high of $896.32. The company has a market capitalization of $93.99 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.66 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) 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 the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $5.74 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities analysts expect that KLA Co. will post 30.34 EPS for the current 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. This represents a $6.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is 31.05%.

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.