CIBC Asset Management Inc Has $27.20 Million Holdings in KLA Co. (NASDAQ:KLAC)

CIBC Asset Management Inc boosted its position in shares of KLA Co. (NASDAQ:KLAC) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,170 shares of the semiconductor company’s stock after purchasing an additional 1,299 shares during the period. CIBC Asset Management Inc’s holdings in KLA were worth $27,202,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KLAC. State Street Corp raised its holdings in shares of KLA by 2.5% in the third quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock valued at $4,630,424,000 after buying an additional 145,317 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of KLA by 32,828.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after purchasing an additional 3,408,617 shares during the period. Geode Capital Management LLC boosted its stake in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock worth $2,487,971,000 after purchasing an additional 93,743 shares during the period. Van ECK Associates Corp raised its position in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Finally, Alkeon Capital Management LLC increased its stake in KLA by 5.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock valued at $732,464,000 after buying an additional 49,470 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KLAC shares. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Susquehanna boosted their target price on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised their price target on shares of KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $831.68.

KLA Price Performance

KLA stock opened at $750.74 on Tuesday. The stock’s 50 day moving average is $697.11 and its 200 day moving average is $714.23. KLA Co. has a one year low of $609.40 and a one year high of $896.32. The firm has a market cap of $99.77 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.54 and a beta of 1.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, research analysts expect that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 0.91%. KLA’s payout ratio is currently 28.60%.

About KLA

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.