Point72 Europe London LLP Buys 9,700 Shares of KLA Co. (NASDAQ:KLAC)

Point72 Europe London LLP increased its stake in KLA Co. (NASDAQ:KLAC) by 118.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,900 shares of the semiconductor company’s stock after buying an additional 9,700 shares during the period. KLA accounts for 0.9% of Point72 Europe London LLP’s portfolio, making the stock its 29th largest position. Point72 Europe London LLP’s holdings in KLA were worth $13,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Family Firm Inc. bought a new stake in shares of KLA during the second quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new stake in shares of KLA during the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. purchased a new stake in shares of KLA in the 2nd quarter worth about $44,000. LRI Investments LLC bought a new position in shares of KLA in the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC purchased a new position in KLA during the 2nd quarter valued at about $53,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of KLAC opened at $647.03 on Friday. The firm has a fifty day simple moving average of $699.34 and a two-hundred day simple moving average of $757.61. The firm has a market cap of $86.55 billion, a PE ratio of 29.54, a P/E/G ratio of 1.33 and a beta of 1.29. 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.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.74 earnings per share. On average, equities analysts anticipate that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm 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 $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is 31.05%.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. 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 note on Thursday, September 12th. Barclays dropped their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Finally, Susquehanna dropped their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $815.55.

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.