PNC Financial Services Group Inc. Boosts Stake in KLA Co. (NASDAQ:KLAC)

PNC Financial Services Group Inc. raised its position in KLA Co. (NASDAQ:KLAC) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,677 shares of the semiconductor company’s stock after purchasing an additional 2,035 shares during the quarter. PNC Financial Services Group Inc.’s holdings in KLA were worth $16,787,000 as of its most recent SEC filing.

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

KLA Price Performance

Shares of NASDAQ:KLAC opened at $631.22 on Friday. The stock has a fifty day moving average of $712.59 and a 200-day moving average of $760.85. The company has a market capitalization of $84.43 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a one year low of $527.11 and a one year high of $896.32.

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, topping analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during 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 was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 EPS. As a group, equities analysts anticipate that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business 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 is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. KLA’s dividend payout ratio is 31.05%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KLAC shares. The Goldman Sachs Group upped their price objective on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group lowered their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a report on Thursday, October 31st. Finally, Citigroup lowered their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

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.