Quantbot Technologies LP Buys New Shares in KLA Co. (NASDAQ:KLAC)

Quantbot Technologies LP acquired a new position in KLA Co. (NASDAQ:KLAC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,933 shares of the semiconductor company’s stock, valued at approximately $16,985,000. KLA makes up approximately 0.7% of Quantbot Technologies LP’s portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swedbank AB raised its holdings in shares of KLA by 0.4% during the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after purchasing an additional 2,019 shares during the period. Community Financial Services Group LLC grew its stake in KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after acquiring an additional 6,279 shares during the period. Eastern Bank increased its holdings in shares of KLA by 655.8% during the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after acquiring an additional 23,747 shares in the last quarter. ING Groep NV raised its position in shares of KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after purchasing an additional 27,436 shares during the period. Finally, Generate Investment Management Ltd lifted its holdings in shares of KLA by 39.0% in the 3rd quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after purchasing an additional 1,651 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KLAC has been the subject of several recent research reports. Barclays decreased their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Susquehanna dropped their target price on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. UBS Group decreased their price target on 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. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and an average target price of $815.55.

KLA Stock Performance

Shares of KLAC stock opened at $644.67 on Tuesday. The stock has a market capitalization of $86.23 billion, a P/E ratio of 29.44, a PEG ratio of 1.35 and a beta of 1.29. The firm’s 50 day moving average is $708.52 and its 200 day moving average is $760.47. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. 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 (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.74 earnings per share. On average, sell-side analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) 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.