Parnassus Investments LLC Has $117.99 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Parnassus Investments LLC decreased its stake in KLA Co. (NASDAQ:KLAC) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 152,361 shares of the semiconductor company’s stock after selling 1,206 shares during the quarter. Parnassus Investments LLC’s holdings in KLA were worth $117,990,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Lake Street Advisors Group LLC grew its stake in KLA by 65.9% in the first quarter. Lake Street Advisors Group LLC now owns 1,289 shares of the semiconductor company’s stock valued at $900,000 after purchasing an additional 512 shares in the last quarter. Ossiam grew its stake in shares of KLA by 2,912.3% in the 1st quarter. Ossiam now owns 103,956 shares of the semiconductor company’s stock valued at $72,621,000 after buying an additional 100,505 shares in the last quarter. MQS Management LLC increased its holdings in KLA by 3.1% in the first quarter. MQS Management LLC now owns 1,249 shares of the semiconductor company’s stock worth $873,000 after buying an additional 38 shares during the last quarter. Shell Asset Management Co. raised its position in KLA by 246.5% during the first quarter. Shell Asset Management Co. now owns 4,459 shares of the semiconductor company’s stock valued at $3,115,000 after acquiring an additional 3,172 shares in the last quarter. Finally, Fayez Sarofim & Co raised its position in KLA by 35.6% during the first quarter. Fayez Sarofim & Co now owns 667 shares of the semiconductor company’s stock valued at $466,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on KLAC. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays decreased their target price on 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, TD Cowen reduced their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Stock Up 1.2 %

Shares of KLAC opened at $620.26 on Tuesday. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The stock has a market cap of $82.97 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.29 and a beta of 1.29. The company has a 50-day moving average price of $719.23 and a two-hundred day moving average price of $763.35. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business posted $5.74 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities analysts predict that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.10%. KLA’s dividend payout ratio is currently 26.48%.

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.