MWA Asset Management Boosts Position in KLA Co. (NASDAQ:KLAC)

MWA Asset Management grew its position in KLA Co. (NASDAQ:KLAC) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 643 shares of the semiconductor company’s stock after buying an additional 29 shares during the quarter. MWA Asset Management’s holdings in KLA were worth $498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC raised its stake in 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. Swedbank AB purchased a new stake in shares of KLA in the first quarter worth about $379,678,000. International Assets Investment Management LLC lifted its holdings in KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after acquiring an additional 301,987 shares during the period. Van ECK Associates Corp grew its stake 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 worth $1,083,684,000 after purchasing an additional 286,015 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of KLA by 6,188.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after acquiring an additional 235,597 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on KLAC. Barclays cut their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Susquehanna dropped their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company decreased their price target 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, Argus lifted their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Stock Down 0.7 %

Shares of NASDAQ:KLAC opened at $615.66 on Wednesday. The stock’s 50-day moving average price is $719.23 and its two-hundred day moving average price is $763.35. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The firm has a market cap of $82.35 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.29 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted its quarterly 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 net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $5.74 earnings per share. KLA’s revenue was up 18.5% on a year-over-year basis. On average, research analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently declared 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 represents a $6.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 26.48%.

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.