Boomfish Wealth Group LLC Acquires 585 Shares of KLA Co. (NASDAQ:KLAC)

Boomfish Wealth Group LLC lifted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 18.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,787 shares of the semiconductor company’s stock after buying an additional 585 shares during the period. KLA comprises 1.4% of Boomfish Wealth Group LLC’s holdings, making the stock its 26th largest position. Boomfish Wealth Group LLC’s holdings in KLA were worth $2,386,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Cibc World Market Inc. grew its stake in KLA by 80.4% in the fourth quarter. Cibc World Market Inc. now owns 34,451 shares of the semiconductor company’s stock valued at $21,708,000 after purchasing an additional 15,352 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of KLA by 19.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 48,102 shares of the semiconductor company’s stock valued at $30,404,000 after buying an additional 7,759 shares during the last quarter. Colton Groome Financial Advisors LLC grew its stake in shares of KLA by 2.6% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,978 shares of the semiconductor company’s stock valued at $1,876,000 after buying an additional 75 shares in the last quarter. Capital Investment Advisory Services LLC increased its holdings in KLA by 6.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 1,040 shares of the semiconductor company’s stock worth $655,000 after buying an additional 66 shares during the last quarter. Finally, First Affirmative Financial Network raised its position in KLA by 27.4% during the fourth quarter. First Affirmative Financial Network now owns 419 shares of the semiconductor company’s stock worth $264,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KLAC shares. Needham & Company LLC upgraded shares of KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective on the stock in a research note on Monday, January 13th. Barclays lowered their price target on KLA from $750.00 to $700.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. TD Cowen cut their price objective on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $812.47.

KLA Stock Performance

NASDAQ:KLAC opened at $742.43 on Friday. 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 firm has a market capitalization of $99.31 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. KLA Co. has a twelve month low of $581.70 and a twelve month high of $896.32. The stock’s 50-day simple moving average is $671.76 and its 200 day simple moving average is $718.50.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a net margin of 28.92% and a return on equity of 105.16%. On average, analysts anticipate that KLA Co. will post 30.34 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA’s dividend payout ratio 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.