KLA Co. (NASDAQ:KLAC) Stock Position Lifted by ABLE Financial Group LLC

ABLE Financial Group LLC raised its stake in KLA Co. (NASDAQ:KLAC) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,511 shares of the semiconductor company’s stock after buying an additional 38 shares during the quarter. ABLE Financial Group LLC’s holdings in KLA were worth $1,170,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Swedbank AB bought a new position in KLA during the first quarter valued at approximately $379,678,000. International Assets Investment Management LLC increased its stake in shares of KLA by 76,452.4% during 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 raised its holdings in shares of KLA by 25.7% during 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 purchasing an additional 286,015 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 235,597 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in KLA by 2,205.8% in the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after purchasing an additional 192,849 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

KLAC stock traded up $2.13 during trading on Friday, hitting $688.28. The company had a trading volume of 331,389 shares, compared to its average volume of 947,782. 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 company has a fifty day moving average price of $735.90 and a two-hundred day moving average price of $763.89. KLA Co. has a fifty-two week low of $505.50 and a fifty-two week high of $896.32. The company has a market cap of $92.06 billion, a P/E ratio of 31.27, a P/E/G ratio of 1.40 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion for 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 firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 EPS. Equities research 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. Shareholders of record on Monday, November 18th will be given a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 0.99%. KLA’s payout ratio is presently 26.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KLAC. Wells Fargo & Company reduced their price target on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Susquehanna decreased their target price on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $802.90.

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.