Insight Wealth Strategies LLC Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Insight Wealth Strategies LLC boosted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,745 shares of the semiconductor company’s stock after acquiring an additional 297 shares during the period. Insight Wealth Strategies LLC’s holdings in KLA were worth $3,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC boosted its stake in shares of KLA by 55.2% in the 2nd quarter. Private Advisor Group LLC now owns 5,722 shares of the semiconductor company’s stock valued at $4,719,000 after buying an additional 2,034 shares during the period. Advisor OS LLC lifted its holdings in shares of KLA by 4.9% in the 2nd quarter. Advisor OS LLC now owns 1,311 shares of the semiconductor company’s stock valued at $1,081,000 after buying an additional 61 shares during the period. Norden Group LLC grew its holdings in shares of KLA by 8.5% during the second quarter. Norden Group LLC now owns 508 shares of the semiconductor company’s stock worth $419,000 after buying an additional 40 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in KLA in the 2nd quarter worth about $332,000. Finally, Acadian Asset Management LLC raised its holdings in KLA by 58.4% in the second quarter. Acadian Asset Management LLC now owns 44,953 shares of the semiconductor company’s stock valued at $37,053,000 after buying an additional 16,577 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a report on Thursday, December 5th. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $816.63.

KLA Stock Performance

Shares of KLAC stock traded up $29.29 on Monday, reaching $686.30. The stock had a trading volume of 938,247 shares, compared to its average volume of 879,753. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a 12 month low of $548.84 and a 12 month high of $896.32. The firm’s 50-day moving average is $649.53 and its two-hundred day moving average is $732.79. The firm has a market capitalization of $91.80 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 1.39 and a beta of 1.27.

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 business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.74 EPS. On average, research analysts expect that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.99%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is presently 31.05%.

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.