Guinness Atkinson Asset Management Inc Increases Position in KLA Co. (NASDAQ:KLAC)

Guinness Atkinson Asset Management Inc lifted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,245 shares of the semiconductor company’s stock after acquiring an additional 856 shares during the quarter. KLA accounts for about 3.0% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 21st largest position. Guinness Atkinson Asset Management Inc’s holdings in KLA were worth $5,825,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mizuho Securities USA LLC increased its position in shares of 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 purchasing an additional 3,408,617 shares during the last quarter. 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 buying an additional 301,987 shares during the period. Van ECK Associates Corp increased its holdings 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 worth $1,083,684,000 after buying an additional 286,015 shares during the last quarter. Assenagon Asset Management S.A. raised its position in KLA by 6,188.5% in the third 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 during the period. Finally, Two Sigma Advisers LP grew its position in shares of KLA by 10,766.7% during the 3rd quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after acquiring an additional 226,100 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KLAC shares. Susquehanna lowered their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on KLA from $800.00 to $795.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Morgan Stanley dropped their price objective on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a report on Thursday, December 5th. Finally, Barclays reduced their target price on shares of KLA from $750.00 to $700.00 and set an “equal weight” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $806.60.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $757.47 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a market cap of $101.32 billion, a PE ratio of 34.59, a PEG ratio of 1.47 and a beta of 1.27. The company’s fifty day moving average is $654.99 and its 200 day moving average is $724.46. KLA Co. has a 52 week low of $577.00 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.74 earnings per share. Research analysts anticipate that KLA Co. will post 30.37 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is 31.05%.

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.