Cornerstone Investment Partners LLC Purchases 9,791 Shares of KLA Co. (NASDAQ:KLAC)

Cornerstone Investment Partners LLC boosted its position in KLA Co. (NASDAQ:KLAC) by 17.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,547 shares of the semiconductor company’s stock after purchasing an additional 9,791 shares during the quarter. KLA comprises about 2.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 24th biggest holding. Cornerstone Investment Partners LLC owned approximately 0.05% of KLA worth $42,563,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in KLA by 2.5% in the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock valued at $4,630,424,000 after purchasing an additional 145,317 shares during the period. Mizuho Securities USA LLC boosted its stake in 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 valued at $2,487,971,000 after purchasing an additional 93,743 shares during the period. Bank of New York Mellon Corp boosted its stake in KLA by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,153,043 shares of the semiconductor company’s stock valued at $726,555,000 after purchasing an additional 64,238 shares during the period. Finally, Alkeon Capital Management LLC boosted 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 purchasing an additional 49,470 shares during the period. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Performance

Shares of KLA stock opened at $691.15 on Tuesday. The company has a market cap of $91.84 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32. The business has a 50 day moving average price of $717.73 and a 200-day moving average price of $713.28. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64.

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

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, February 24th. KLA’s payout ratio is 28.60%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KLAC shares. Needham & Company LLC lifted their price objective on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group upped their price target on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Cantor Fitzgerald upped their price target on KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.68.

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.