United Advisor Group LLC Takes $562,000 Position in KLA Co. (NASDAQ:KLAC)

United Advisor Group LLC bought a new position in shares of KLA Co. (NASDAQ:KLAC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 726 shares of the semiconductor company’s stock, valued at approximately $562,000.

Several other hedge funds have also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in KLA in the 1st quarter valued at approximately $379,678,000. International Assets Investment Management LLC raised its holdings in shares of KLA by 76,452.4% in the third 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 during the last quarter. Van ECK Associates Corp lifted 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 worth $1,083,684,000 after purchasing an additional 286,015 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after purchasing an additional 235,597 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in KLA by 2,205.8% during the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after purchasing an additional 192,849 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on KLAC. Susquehanna cut their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price target on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Finally, TD Cowen lowered their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

KLA Stock Performance

NASDAQ:KLAC opened at $670.33 on Wednesday. The stock has a 50 day simple moving average of $738.59 and a 200 day simple moving average of $764.55. The stock has a market cap of $89.66 billion, a P/E ratio of 30.61, a PEG ratio of 1.41 and a beta of 1.29. KLA Co. has a 1-year low of $495.10 and a 1-year high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm earned $5.74 earnings per share. The company’s revenue was up 18.5% on a year-over-year basis. Research analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

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.