Fortis Capital Management LLC Has $3.60 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Fortis Capital Management LLC boosted its position in KLA Co. (NASDAQ:KLAC) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,652 shares of the semiconductor company’s stock after acquiring an additional 215 shares during the period. Fortis Capital Management LLC’s holdings in KLA were worth $3,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Plato Investment Management Ltd raised its position in shares of KLA by 2.1% during the 3rd quarter. Plato Investment Management Ltd now owns 6,462 shares of the semiconductor company’s stock valued at $4,999,000 after acquiring an additional 131 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in shares of KLA by 18.6% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,754 shares of the semiconductor company’s stock worth $1,358,000 after purchasing an additional 275 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in KLA by 0.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 35,812 shares of the semiconductor company’s stock valued at $27,733,000 after purchasing an additional 283 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in KLA in the third quarter valued at about $215,000. Finally, Simmons Bank boosted its holdings in KLA by 2.7% during the third quarter. Simmons Bank now owns 6,789 shares of the semiconductor company’s stock worth $5,257,000 after buying an additional 178 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. Argus lifted their price target on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays lowered their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Stock Down 3.0 %

KLA stock opened at $644.55 on Thursday. The company has a fifty day simple moving average of $726.46 and a 200 day simple moving average of $764.95. 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. The company has a market cap of $86.22 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29.

KLA (NASDAQ:KLAC) last released its earnings results 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 return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $5.74 earnings per share. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis 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 is currently 26.48%.

About KLA

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.