Concord Asset Management LLC VA Buys 146 Shares of KLA Co. (NASDAQ:KLAC)

Concord Asset Management LLC VA increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,410 shares of the semiconductor company’s stock after acquiring an additional 146 shares during the quarter. Concord Asset Management LLC VA’s holdings in KLA were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its position in shares of KLA by 32,828.8% during the third 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 lifted its position in 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its position in KLA by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock valued at $1,829,352,000 after purchasing an additional 71,289 shares during the last quarter. Van ECK Associates Corp lifted its position in 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 purchasing an additional 286,015 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in KLA by 1.9% during 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 purchasing an additional 21,412 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

KLA Trading Down 4.7 %

KLAC stock opened at $614.46 on Friday. The company has a market capitalization of $82.19 billion, a PE ratio of 28.06, a P/E/G ratio of 1.29 and a beta of 1.29. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The firm’s 50-day moving average is $721.02 and its 200 day moving average is $763.10. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last posted its 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 for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.74 EPS. On average, research analysts anticipate that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. KLA’s dividend payout ratio (DPR) is 26.48%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KLAC shares. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Company 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.