Lazard Freres Gestion S.A.S. Has $61.25 Million Stock Position in KLA Co. (NASDAQ:KLAC)

Lazard Freres Gestion S.A.S. trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,087 shares of the semiconductor company’s stock after selling 17,558 shares during the period. KLA makes up about 1.3% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 27th biggest position. Lazard Freres Gestion S.A.S. owned approximately 0.06% of KLA worth $61,245,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KLAC. Mizuho Securities USA LLC raised its position in KLA by 32,828.8% during the third quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after buying an additional 3,408,617 shares during the period. Swedbank AB acquired a new position in KLA in the 1st quarter worth about $379,678,000. International Assets Investment Management LLC increased its position in KLA by 76,452.4% in the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after purchasing an additional 301,987 shares during the last quarter. Van ECK Associates Corp increased 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 worth $1,083,684,000 after purchasing an additional 286,015 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after purchasing an additional 235,597 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

Shares of KLAC stock traded up $5.12 during mid-day trading on Tuesday, reaching $644.67. The stock had a trading volume of 1,912,957 shares, compared to its average volume of 972,241. KLA Co. has a one year low of $527.11 and a one year high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The firm’s 50 day simple moving average is $708.52 and its 200 day simple moving average is $760.47. The firm has a market cap of $86.23 billion, a PE ratio of 29.44, a P/E/G ratio of 1.35 and a beta of 1.29.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $5.74 EPS. On average, analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. 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. KLA’s dividend payout ratio (DPR) is currently 31.05%.

Analysts Set New Price Targets

Several brokerages have weighed in on KLAC. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Susquehanna lowered their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.