Insight Wealth Strategies LLC Purchases 297 Shares of KLA Co. (NASDAQ:KLAC)

Insight Wealth Strategies LLC raised its position in KLA Co. (NASDAQ:KLAC) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,745 shares of the semiconductor company’s stock after acquiring an additional 297 shares during the period. Insight Wealth Strategies LLC’s holdings in KLA were worth $3,620,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of KLAC. State Street Corp lifted its stake in shares of KLA by 2.5% in the third quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock valued at $4,630,424,000 after buying an additional 145,317 shares in the last quarter. Mizuho Securities USA LLC raised 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 worth $2,647,708,000 after acquiring an additional 3,408,617 shares during the last quarter. Geode Capital Management LLC lifted its position in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock valued at $2,487,971,000 after acquiring an additional 93,743 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in KLA by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock valued at $2,318,329,000 after purchasing an additional 28,172 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of KLA by 25.7% during the third 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 during the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on KLA from $870.00 to $800.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Citigroup cut their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Finally, Morgan Stanley cut their price target on KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and a consensus target price of $816.63.

KLA Trading Up 4.5 %

KLAC traded up $29.29 on Monday, hitting $686.30. The company had a trading volume of 938,247 shares, compared to its average volume of 879,753. KLA Co. has a 12-month low of $548.84 and a 12-month high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The business’s fifty day simple moving average is $649.53 and its 200 day simple moving average is $732.79. The company has a market cap of $91.80 billion, a PE ratio of 31.34, a PEG ratio of 1.39 and a beta of 1.27.

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 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $5.74 earnings per share. KLA’s revenue was up 18.5% on a year-over-year basis. Equities research analysts expect that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 0.99%. KLA’s dividend payout ratio (DPR) is 31.05%.

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.