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

Perigon Wealth Management LLC increased its stake in KLA Co. (NASDAQ:KLAC) by 204.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,287 shares of the semiconductor company’s stock after buying an additional 3,552 shares during the quarter. Perigon Wealth Management LLC’s holdings in KLA were worth $3,331,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC lifted its holdings in KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of KLA by 3.3% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 13 shares in the last quarter. Marcum Wealth LLC boosted its holdings in KLA by 4.1% in the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in KLA by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after purchasing an additional 16 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in KLA by 0.4% during the 3rd quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after purchasing an additional 16 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $702.92 on Wednesday. KLA Co. has a 12-month low of $581.70 and a 12-month high of $896.32. The company has a market cap of $94.02 billion, a PE ratio of 32.10, a P/E/G ratio of 1.66 and a beta of 1.27. The stock has a 50 day simple moving average of $668.09 and a 200-day simple moving average of $719.63. 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 released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business posted $5.74 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities research analysts forecast that KLA Co. will post 30.34 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 0.97%. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on KLAC shares. The Goldman Sachs Group reduced their target price on KLA from $850.00 to $759.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Needham & Company LLC upgraded shares of KLA from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a research note on Monday, January 13th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Susquehanna upped their price objective on KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $812.47.

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.