Kingsview Wealth Management LLC Buys 32 Shares of KLA Co. (NASDAQ:KLAC)

Kingsview Wealth Management LLC grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,470 shares of the semiconductor company’s stock after acquiring an additional 32 shares during the period. Kingsview Wealth Management LLC’s holdings in KLA were worth $3,461,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its position in KLA by 32,828.8% during 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. Massachusetts Financial Services Co. MA boosted its stake in shares of KLA by 1.0% during the second 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 in the last quarter. Van ECK Associates Corp grew its holdings 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 worth $1,083,684,000 after purchasing an additional 286,015 shares during the last quarter. Legal & General Group Plc increased its stake in shares of KLA by 1.9% in the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after buying an additional 21,412 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in KLA by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 826,954 shares of the semiconductor company’s stock valued at $640,401,000 after buying an additional 13,038 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Performance

Shares of KLAC opened at $639.55 on Monday. The firm has a market capitalization of $85.55 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.33 and a beta of 1.29. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32. The stock has a 50 day moving average price of $710.36 and a two-hundred day moving average price of $760.93. 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 (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. KLA’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.74 EPS. Equities analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.06%. KLA’s payout ratio is 31.05%.

Wall Street Analyst Weigh In

KLAC has been the subject of several recent research reports. Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Citigroup lowered their target price on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $815.55.

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.