Harvest Fund Management Co. Ltd Buys 1,308 Shares of KLA Co. (NASDAQ:KLAC)

Harvest Fund Management Co. Ltd grew its stake in KLA Co. (NASDAQ:KLAC) by 16.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,085 shares of the semiconductor company’s stock after purchasing an additional 1,308 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in KLA were worth $7,031,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in KLA by 8.1% during the third quarter. Fisher Asset Management LLC now owns 68,395 shares of the semiconductor company’s stock worth $52,966,000 after acquiring an additional 5,096 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of KLA by 14.1% during the third quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock worth $25,722,000 after purchasing an additional 4,112 shares during the period. Marco Investment Management LLC boosted its stake in KLA by 1.4% in the 3rd quarter. Marco Investment Management LLC now owns 23,617 shares of the semiconductor company’s stock valued at $18,289,000 after purchasing an additional 328 shares during the period. Hartford Funds Management Co LLC boosted its stake in KLA by 3.6% in the 3rd quarter. Hartford Funds Management Co LLC now owns 1,058 shares of the semiconductor company’s stock valued at $820,000 after purchasing an additional 37 shares during the period. Finally, Summit Trail Advisors LLC increased its position in KLA by 53.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,046 shares of the semiconductor company’s stock worth $810,000 after buying an additional 365 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Trading Up 1.0 %

NASDAQ KLAC opened at $639.55 on Monday. The company has a market cap of $85.55 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. KLA Co. has a twelve month low of $527.11 and a twelve month high of $896.32. 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 business’s fifty day moving average is $710.36 and its 200 day moving average is $760.93.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $5.74 earnings per share. As a group, sell-side analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.06%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Susquehanna reduced their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Wells Fargo & Company dropped 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. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average price target of $815.55.

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.