KLA Co. (NASDAQ:KLAC) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners lifted its position in KLA Co. (NASDAQ:KLAC) by 44.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,948 shares of the semiconductor company’s stock after purchasing an additional 603 shares during the quarter. Concord Wealth Partners’ holdings in KLA were worth $1,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KLAC. State Street Corp grew its position in shares of KLA by 2.5% during the third quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock worth $4,630,424,000 after acquiring an additional 145,317 shares during the last quarter. Mizuho Securities USA LLC increased its stake in KLA by 32,828.8% in 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 purchasing an additional 3,408,617 shares during the period. Geode Capital Management LLC boosted its stake in shares of KLA by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock worth $2,487,971,000 after buying an additional 93,743 shares during the period. 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 valued at $1,083,684,000 after acquiring an additional 286,015 shares during the period. Finally, Alkeon Capital Management LLC lifted its position in KLA by 5.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock worth $732,464,000 after acquiring an additional 49,470 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KLAC shares. The Goldman Sachs Group increased their price target on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Susquehanna boosted their target price on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus upped their price objective on KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus price target of $829.32.

KLA Stock Performance

KLA stock opened at $738.24 on Friday. The firm has a market capitalization of $98.75 billion, a P/E ratio of 33.71, a PEG ratio of 1.54 and a beta of 1.27. KLA Co. has a 52 week low of $581.70 and a 52 week high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a fifty day moving average price of $673.99 and a 200 day moving average price of $718.67.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 105.16% and a net margin of 28.92%. Equities research analysts anticipate that KLA Co. will post 30.34 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were issued a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.92%. KLA’s payout ratio is presently 31.05%.

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.