State of Michigan Retirement System Purchases 300 Shares of KLA Co. (NASDAQ:KLAC)

State of Michigan Retirement System increased its position in KLA Co. (NASDAQ:KLAC) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,968 shares of the semiconductor company’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in KLA were worth $25,185,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in KLA during the third quarter worth $29,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of KLA in the fourth quarter valued at about $32,000. Groupama Asset Managment lifted its stake in shares of KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,038 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of KLA during the 3rd quarter worth about $38,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in KLA in the 4th quarter valued at about $43,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KLAC shares. The Goldman Sachs Group raised 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. Barclays lifted their price target on KLA from $700.00 to $760.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on KLA from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, January 31st. UBS Group lifted their target price on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald upped their price target on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and an average target price of $831.68.

KLA Trading Up 1.1 %

NASDAQ KLAC opened at $699.00 on Wednesday. The company has a market cap of $92.89 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. KLA Co. has a twelve month low of $609.40 and a twelve month high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The business’s fifty day moving average is $718.70 and its 200 day moving average is $712.43.

KLA (NASDAQ:KLAC) last announced 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%. As a group, sell-side analysts expect that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s payout ratio is currently 28.60%.

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.