Glenmede Trust Co. NA Has $25.30 Million Position in KLA Co. (NASDAQ:KLAC)

Glenmede Trust Co. NA boosted its position in shares of KLA Co. (NASDAQ:KLAC) by 1.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,668 shares of the semiconductor company’s stock after purchasing an additional 403 shares during the quarter. Glenmede Trust Co. NA’s holdings in KLA were worth $25,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its stake in KLA by 32,828.8% in the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 valued at $2,318,329,000 after acquiring an additional 28,172 shares during the last quarter. Van ECK Associates Corp lifted its stake 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. Legal & General Group Plc boosted its position in shares of KLA by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock worth $959,695,000 after purchasing an additional 21,412 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of KLA by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 826,954 shares of the semiconductor company’s stock worth $640,401,000 after purchasing an additional 13,038 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLAC has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Susquehanna lowered their target price on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company reduced their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, TD Cowen dropped their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $815.55.

KLA Price Performance

Shares of KLAC opened at $632.14 on Thursday. The company has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.36 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The company’s fifty day simple moving average is $704.38 and its 200 day simple moving average is $758.96. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last released 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. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $5.74 earnings per share. On average, research analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is currently 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.