Kolinsky Wealth Management LLC Grows Stake in KLA Co. (NASDAQ:KLAC)

Kolinsky Wealth Management LLC increased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425 shares of the semiconductor company’s stock after purchasing an additional 17 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in KLA were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in KLA by 0.4% during the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after buying an additional 2,019 shares during the last quarter. Community Financial Services Group LLC boosted its stake in KLA by 538.5% during the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after buying an additional 6,279 shares during the last quarter. Eastern Bank boosted its stake in KLA by 655.8% during the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares during the last quarter. ING Groep NV boosted its stake in KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after buying an additional 27,436 shares during the last quarter. Finally, Generate Investment Management Ltd boosted its stake in KLA by 39.0% during the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock valued at $4,555,000 after buying an additional 1,651 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on KLAC shares. TD Cowen dropped their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Susquehanna lowered their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Barclays lowered their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $815.55.

KLA Price Performance

Shares of KLAC stock opened at $647.03 on Friday. The stock has a 50 day moving average price of $699.34 and a 200 day moving average price of $757.61. The firm has a market capitalization of $86.55 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.33 and a beta of 1.29. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32. 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 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 company 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%. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the business posted $5.74 EPS. As a group, sell-side analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio (DPR) is presently 31.05%.

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.