M&T Bank Corp Grows Holdings in KLA Co. (NASDAQ:KLAC)

M&T Bank Corp raised its position in shares of KLA Co. (NASDAQ:KLAC) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,724 shares of the semiconductor company’s stock after purchasing an additional 83 shares during the quarter. M&T Bank Corp’s holdings in KLA were worth $13,726,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KLAC. Family Firm Inc. bought a new position in KLA in the 2nd quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in shares of KLA in the third quarter worth about $29,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA during the third quarter worth about $38,000. FSA Wealth Management LLC bought a new stake in KLA during the 3rd quarter valued at approximately $53,000. Finally, HHM Wealth Advisors LLC purchased a new position in KLA in the 2nd quarter worth approximately $59,000. 86.65% of the stock is currently owned by institutional investors.

KLA Trading Up 1.2 %

KLAC opened at $629.37 on Friday. KLA Co. has a one year low of $542.41 and a one year high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The stock has a market cap of $84.18 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.38 and a beta of 1.27. The stock’s 50 day moving average price is $659.25 and its 200-day moving average price is $745.52.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.74 earnings per share. On average, equities analysts forecast that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were issued a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. KLA’s payout ratio is presently 31.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Finally, Susquehanna decreased their target price on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $816.63.

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.