CWA Asset Management Group LLC Buys New Position in KLA Co. (NASDAQ:KLAC)

CWA Asset Management Group LLC purchased a new position in shares of KLA Co. (NASDAQ:KLAC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,895 shares of the semiconductor company’s stock, valued at approximately $2,242,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC boosted its position in KLA by 19.7% during the first quarter. Norden Group LLC now owns 468 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 77 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of KLA by 16.0% during the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after purchasing an additional 10,594 shares during the last quarter. Abbrea Capital LLC purchased a new stake in shares of KLA in the first quarter valued at $214,000. Choate Investment Advisors increased its stake in KLA by 11.8% in the first quarter. Choate Investment Advisors now owns 623 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 66 shares during the last quarter. Finally, NorthRock Partners LLC lifted its position in KLA by 30.8% during the first quarter. NorthRock Partners LLC now owns 1,926 shares of the semiconductor company’s stock worth $1,345,000 after buying an additional 454 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Up 0.2 %

Shares of NASDAQ KLAC opened at $687.41 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a 1 year low of $505.50 and a 1 year high of $896.32. The stock’s 50-day simple moving average is $731.06 and its 200-day simple moving average is $763.72. The firm has a market cap of $91.95 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.41 and a beta of 1.29.

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

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a $1.70 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.99%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is presently 26.48%.

Analyst Ratings Changes

KLAC has been the subject of a number of research analyst reports. Argus upped their price objective on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, TD Cowen lowered their price target 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 research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

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.