Cibc World Markets Corp Buys 53,491 Shares of KLA Co. (NASDAQ:KLAC)

Cibc World Markets Corp boosted its holdings in KLA Co. (NASDAQ:KLAC – Get Rating) by 147.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,822 shares of the semiconductor company’s stock after acquiring an additional 53,491 shares during the quarter. Cibc World Markets Corp owned 0.06% of KLA worth $38,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional raised its holdings in KLA by 7.5% in the 3rd quarter. CX Institutional now owns 385 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 27 shares during the period. Trust Co. of Toledo NA OH increased its holdings in shares of KLA by 4.6% in the fourth quarter. Trust Co. of Toledo NA OH now owns 642 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 28 shares during the last quarter. Clarius Group LLC grew its position in KLA by 1.5% in the fourth quarter. Clarius Group LLC now owns 1,835 shares of the semiconductor company’s stock worth $789,000 after acquiring an additional 28 shares in the last quarter. KCS Wealth Advisory grew its position in KLA by 0.7% in the fourth quarter. KCS Wealth Advisory now owns 4,439 shares of the semiconductor company’s stock worth $1,909,000 after acquiring an additional 29 shares in the last quarter. Finally, IFP Advisors Inc grew its position in KLA by 3.0% in the fourth quarter. IFP Advisors Inc now owns 1,040 shares of the semiconductor company’s stock worth $449,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

Several brokerages have issued reports on KLAC. Susquehanna Bancshares boosted their target price on KLA from $490.00 to $510.00 and gave the company a “positive” rating in a research report on Friday, January 28th. Morgan Stanley reduced their price objective on shares of KLA from $400.00 to $375.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Piper Sandler reduced their price target on KLA from $402.00 to $385.00 in a research report on Friday, April 29th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Susquehanna upped their target price on KLA from $490.00 to $510.00 in a research report on Friday, January 28th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $437.40.

In other news, CFO Bren D. Higgins sold 1,418 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $355.06, for a total value of $503,475.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Shares of NASDAQ KLAC traded up $4.67 on Thursday, hitting $338.52. The company’s stock had a trading volume of 1,446,732 shares, compared to its average volume of 1,497,975. KLA Co. has a 12-month low of $287.44 and a 12-month high of $457.12. The company has a market capitalization of $50.52 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.33 and a quick ratio of 1.63. The stock has a 50 day moving average of $340.83 and a 200-day moving average of $376.36.

KLA (NASDAQ:KLAC – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.80 by $0.33. KLA had a net margin of 36.41% and a return on equity of 78.72%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the business posted $3.85 earnings per share. The company’s revenue was up 26.9% on a year-over-year basis. Sell-side analysts expect that KLA Co. will post 20.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, May 13th. KLA’s payout ratio is currently 20.39%.

About KLA (Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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