Bank of New York Mellon Corp Has $726.56 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Bank of New York Mellon Corp raised its holdings in KLA Co. (NASDAQ:KLAC) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,153,043 shares of the semiconductor company’s stock after buying an additional 64,238 shares during the period. Bank of New York Mellon Corp owned about 0.86% of KLA worth $726,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in KLA in the 3rd quarter valued at about $29,000. Groupama Asset Managment raised its stake in shares of KLA by 82.3% in the third quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,038 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of KLA in the third quarter valued at approximately $38,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the fourth quarter valued at approximately $43,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in KLA during the fourth quarter worth $47,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KLAC. Needham & Company LLC raised their price objective on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Barclays increased their target price on shares of KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Stifel Nicolaus increased their price objective 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, Morgan Stanley lifted their target price on shares of KLA from $703.00 to $748.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $831.68.

KLA Stock Performance

Shares of KLAC opened at $724.97 on Wednesday. KLA Co. has a 1 year low of $609.40 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The stock’s fifty day moving average price is $711.58 and its two-hundred day moving average price is $715.70. The firm has a market cap of $96.34 billion, a PE ratio of 30.49, a PEG ratio of 1.57 and a beta of 1.28.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, equities research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, February 24th. KLA’s 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.