KLA Co. (NASDAQ:KLAC) Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC raised its holdings in KLA Co. (NASDAQ:KLAC) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,659 shares of the semiconductor company’s stock after acquiring an additional 76 shares during the quarter. KLA accounts for about 1.5% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 16th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in KLA were worth $7,480,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its stake 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 valued at $2,647,708,000 after acquiring an additional 3,408,617 shares in the last quarter. Swedbank AB acquired a new stake in shares of KLA during the first quarter worth approximately $379,678,000. International Assets Investment Management LLC grew its position in KLA by 76,452.4% during 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 purchasing an additional 301,987 shares in the last quarter. Van ECK Associates Corp increased its stake in KLA by 25.7% in the 3rd 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 period. Finally, Assenagon Asset Management S.A. lifted its position in KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after buying an additional 235,597 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KLAC. The Goldman Sachs Group upped their price target on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft dropped their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Finally, TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

KLA Stock Performance

NASDAQ:KLAC traded down $30.54 during trading hours on Friday, reaching $614.46. The stock had a trading volume of 1,712,201 shares, compared to its average volume of 961,993. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The stock has a 50 day simple moving average of $721.02 and a 200 day simple moving average of $762.59. The stock has a market cap of $82.19 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. 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 posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm posted $5.74 earnings per share. The firm’s revenue for the quarter 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 fiscal year.

KLA Increases Dividend

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

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.