Asset Allocation & Management Company LLC Invests $268,000 in KLA Co. (NASDAQ:KLAC)

Asset Allocation & Management Company LLC purchased a new position in shares of KLA Co. (NASDAQ:KLAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 426 shares of the semiconductor company’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KLAC. CVA Family Office LLC lifted its holdings in KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 13 shares during the last quarter. Marcum Wealth LLC lifted its stake in KLA by 4.1% during the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in KLA by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 16 shares in the last quarter. Ascent Wealth Partners LLC lifted its stake in KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock worth $3,459,000 after purchasing an additional 16 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in KLA by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Trading Down 0.2 %

KLAC stock traded down $1.39 during midday trading on Monday, hitting $681.67. The stock had a trading volume of 311,014 shares, compared to its average volume of 1,048,971. The firm has a market cap of $91.18 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. The company’s 50-day moving average price is $650.27 and its 200 day moving average price is $728.30. KLA Co. has a 12-month low of $552.85 and a 12-month high of $896.32. 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 announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the business earned $5.74 EPS. On average, equities research analysts predict that KLA Co. will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were issued a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.00%. KLA’s payout ratio is presently 31.05%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KLAC. TD Cowen decreased their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Needham & Company LLC raised KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective on the stock in a research report on Monday. Barclays dropped their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $809.10.

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.