KLA Co. (NASDAQ:KLAC) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC grew its stake in KLA Co. (NASDAQ:KLAC) by 101.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,630 shares of the semiconductor company’s stock after purchasing an additional 1,323 shares during the quarter. IHT Wealth Management LLC’s holdings in KLA were worth $2,012,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mizuho Securities USA LLC grew its position in shares of KLA by 32,828.8% in the third 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 period. Massachusetts Financial Services Co. MA grew its position in shares of KLA by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock valued at $2,318,329,000 after purchasing an additional 28,172 shares during the period. Van ECK Associates Corp grew its position in shares of KLA by 25.7% in the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares during the period. Legal & General Group Plc grew its position in shares of KLA by 1.9% in the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after purchasing an additional 21,412 shares during the period. Finally, Alkeon Capital Management LLC grew its position in shares of KLA by 5.5% in the third quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock valued at $732,464,000 after purchasing an additional 49,470 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

KLA stock opened at $666.22 on Thursday. The company’s 50 day simple moving average is $693.22 and its 200-day simple moving average is $756.00. The company has a market capitalization of $89.11 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. KLA Co. has a 1 year low of $527.11 and a 1 year 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 results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.74 EPS. As a group, equities research analysts expect that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 31.05%.

Analysts Set New Price Targets

KLAC has been the topic of several research analyst reports. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. TD Cowen decreased their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company 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.