Strategy Asset Managers LLC Makes New $820,000 Investment in KLA Co. (NASDAQ:KLAC)

Strategy Asset Managers LLC acquired a new position in shares of KLA Co. (NASDAQ:KLAC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,059 shares of the semiconductor company’s stock, valued at approximately $820,000.

Other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in KLA during the second quarter worth $30,000. Capital Performance Advisors LLP acquired a new stake in shares of KLA in the third quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA in the second quarter valued at $44,000. LRI Investments LLC acquired a new stake in shares of KLA in the first quarter valued at $45,000. Finally, Olistico Wealth LLC acquired a new stake in shares of KLA in the second quarter valued at $53,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KLAC. Deutsche Bank Aktiengesellschaft lowered their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Barclays lowered their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, KLA has a consensus rating of “Moderate Buy” and an average price target of $802.90.

KLA Trading Down 0.7 %

NASDAQ:KLAC opened at $615.66 on Wednesday. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. 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 stock has a market capitalization of $82.35 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The business’s 50-day simple moving average is $719.23 and its 200-day simple moving average is $763.35.

KLA (NASDAQ:KLAC) last released its quarterly earnings data 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. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business posted $5.74 EPS. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. Sell-side analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed 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 1.10%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 26.48%.

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.