Eagle Rock Investment Company LLC Buys 536 Shares of KLA Co. (NASDAQ:KLAC)

Eagle Rock Investment Company LLC raised its stake in KLA Co. (NASDAQ:KLAC) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,884 shares of the semiconductor company’s stock after acquiring an additional 536 shares during the period. KLA comprises about 1.3% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 19th largest position. Eagle Rock Investment Company LLC’s holdings in KLA were worth $8,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of KLAC. Federated Hermes Inc. increased its holdings in shares of KLA by 7.0% in the second quarter. Federated Hermes Inc. now owns 7,455 shares of the semiconductor company’s stock valued at $6,147,000 after purchasing an additional 488 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of KLA by 58.5% during the second quarter. Citizens Financial Group Inc. RI now owns 566 shares of the semiconductor company’s stock valued at $467,000 after acquiring an additional 209 shares during the period. Blair William & Co. IL boosted its holdings in KLA by 3.9% in the second quarter. Blair William & Co. IL now owns 30,266 shares of the semiconductor company’s stock valued at $24,955,000 after acquiring an additional 1,143 shares during the last quarter. Middleton & Co. Inc. MA bought a new position in KLA in the second quarter valued at about $206,000. Finally, Mathes Company Inc. increased its position in KLA by 1.4% in the second quarter. Mathes Company Inc. now owns 7,710 shares of the semiconductor company’s stock worth $6,357,000 after purchasing an additional 105 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a research note on Monday. Barclays reduced their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley lowered their target price on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a report on Thursday, December 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Finally, Needham & Company LLC raised KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $809.10.

KLA Price Performance

KLAC stock opened at $747.26 on Friday. The stock has a 50-day moving average price of $652.37 and a two-hundred day moving average price of $726.49. KLA Co. has a 1 year low of $552.85 and a 1 year high of $896.32. The stock has a market cap of $99.95 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. 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 (NASDAQ:KLAC) last posted its quarterly earnings data 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. 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 the consensus estimate of $2.75 billion. During the same period last year, the company earned $5.74 earnings per share. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts forecast that KLA Co. will post 30.37 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were given a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

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.