Fortis Capital Management LLC Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Fortis Capital Management LLC grew its holdings in shares of KLA Co. (NASDAQ:KLAC) by 36.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,342 shares of the semiconductor company’s stock after purchasing an additional 1,690 shares during the quarter. Fortis Capital Management LLC’s holdings in KLA were worth $3,996,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Swedbank AB raised its position in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after acquiring an additional 2,019 shares during the period. Diversify Advisory Services LLC grew its holdings in KLA by 22.7% during the fourth quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 120 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of KLA by 14.1% in the third quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock valued at $25,722,000 after buying an additional 4,112 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of KLA by 27.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company’s stock valued at $6,161,000 after buying an additional 2,112 shares during the last quarter. Finally, Milestone Asset Management LLC bought a new position in shares of KLA during the 4th quarter worth $1,563,000. 86.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KLAC has been the topic of several recent research reports. Cantor Fitzgerald upped their price objective on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price objective on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Susquehanna raised their price target on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $830.67.

KLA Price Performance

KLAC opened at $706.49 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $93.88 billion, a P/E ratio of 29.71, a PEG ratio of 1.57 and a beta of 1.30. The stock has a 50-day moving average price of $729.52 and a 200-day moving average price of $703.53. KLA Co. has a 12-month low of $609.40 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Equities analysts predict that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, February 24th. KLA’s dividend payout ratio is presently 28.60%.

KLA 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.