Chevy Chase Trust Holdings LLC Has $55.83 Million Holdings in KLA Co. (NASDAQ:KLAC)

Chevy Chase Trust Holdings LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,094 shares of the semiconductor company’s stock after selling 1,444 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of KLA worth $55,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KLAC. Mizuho Securities USA LLC increased its stake in shares of KLA by 32,828.8% during 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 increased its position in KLA by 1.0% during the second 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 last quarter. Van ECK Associates Corp increased its position in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Legal & General Group Plc raised its stake in KLA by 1.9% in the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after buying an additional 21,412 shares during the period. Finally, Alkeon Capital Management LLC lifted its position in shares of KLA by 5.5% in the third quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock valued at $732,464,000 after buying an additional 49,470 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KLAC. Citigroup dropped their price target on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Barclays reduced their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna reduced their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $815.55.

KLA Stock Performance

NASDAQ KLAC opened at $666.03 on Tuesday. The firm’s 50 day simple moving average is $697.43 and its 200 day simple moving average is $757.21. The firm has a market capitalization of $89.09 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 1.36 and a beta of 1.28. 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 issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $5.74 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, research analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal 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 paid a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.02%. KLA’s payout ratio is presently 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.