KLA Co. (NASDAQ:KLAC) Shares Purchased by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. raised its position in shares of KLA Co. (NASDAQ:KLAC) by 2,248.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,744 shares of the semiconductor company’s stock after acquiring an additional 11,244 shares during the quarter. KLA makes up about 3.3% of Gibraltar Capital Management Inc.’s holdings, making the stock its 13th largest holding. Gibraltar Capital Management Inc.’s holdings in KLA were worth $7,400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fjell Capital LLC purchased a new position in shares of KLA in the fourth quarter worth about $1,150,000. Kirtland Hills Capital Management LLC lifted its stake in KLA by 76.8% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 633 shares of the semiconductor company’s stock worth $399,000 after purchasing an additional 275 shares in the last quarter. FFT Wealth Management LLC boosted its holdings in shares of KLA by 85.7% during the 4th quarter. FFT Wealth Management LLC now owns 557 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 257 shares during the last quarter. Todd Asset Management LLC grew its position in shares of KLA by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 41,517 shares of the semiconductor company’s stock valued at $26,161,000 after purchasing an additional 659 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in KLA during the fourth quarter worth approximately $3,069,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. The Goldman Sachs Group lifted their price target on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. UBS Group upped their price target on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company raised their price objective on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $831.68.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $724.97 on Wednesday. The company’s fifty day moving average price is $711.58 and its 200 day moving average price is $715.70. The firm has a market capitalization of $96.34 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.57 and a beta of 1.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA Co. has a 12 month low of $609.40 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, sell-side analysts predict that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 0.94%. KLA’s dividend payout ratio is currently 28.60%.

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.