Kingsview Wealth Management LLC Purchases 32 Shares of KLA Co. (NASDAQ:KLAC)

Kingsview Wealth Management LLC raised its position in KLA Co. (NASDAQ:KLAC) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,470 shares of the semiconductor company’s stock after purchasing an additional 32 shares during the period. Kingsview Wealth Management LLC’s holdings in KLA were worth $3,461,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Mizuho Securities USA LLC raised 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 worth $2,647,708,000 after buying an additional 3,408,617 shares during the period. Swedbank AB acquired a new stake in shares of KLA during the first quarter worth about $379,678,000. International Assets Investment Management LLC lifted its holdings in shares of KLA by 76,452.4% during the 3rd 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% during the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after purchasing an additional 286,015 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in KLA by 6,188.5% during 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 during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $639.55 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $85.55 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.33 and a beta of 1.29. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The stock has a 50 day moving average of $710.36 and a 200-day moving average of $760.93.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.74 earnings per share. As a group, equities research analysts predict that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a $1.70 dividend. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is currently 31.05%.

Analyst Ratings Changes

Several research analysts have recently weighed in on KLAC shares. Citigroup reduced their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. StockNews.com upgraded KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company decreased their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Barclays cut their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus target price of $815.55.

KLA 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.