Concord Asset Management LLC VA Purchases 146 Shares of KLA Co. (NASDAQ:KLAC)

Concord Asset Management LLC VA grew its position in KLA Co. (NASDAQ:KLAC) by 11.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,410 shares of the semiconductor company’s stock after acquiring an additional 146 shares during the quarter. Concord Asset Management LLC VA’s holdings in KLA were worth $1,092,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KLAC. Mizuho Securities USA LLC boosted its holdings 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 buying an additional 3,408,617 shares in the last quarter. Swedbank AB bought a new stake in shares of KLA in the 1st quarter valued at about $379,678,000. International Assets Investment Management LLC boosted its holdings in shares of 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 valued at $234,168,000 after buying an additional 301,987 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 valued at $185,397,000 after buying an additional 235,597 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KLAC. Citigroup lowered their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Barclays lowered their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $802.90.

KLA Price Performance

NASDAQ:KLAC opened at $614.46 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The firm has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The company has a 50 day moving average price of $721.02 and a 200-day moving average price of $763.10. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.74 EPS. Equities research analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.11%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is 26.48%.

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.