Boomfish Wealth Group LLC Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Boomfish Wealth Group LLC raised its stake in shares of KLA Co. (NASDAQ:KLAC) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,202 shares of the semiconductor company’s stock after buying an additional 173 shares during the quarter. KLA comprises about 1.5% of Boomfish Wealth Group LLC’s investment portfolio, making the stock its 25th biggest holding. Boomfish Wealth Group LLC’s holdings in KLA were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of KLA in the first quarter worth approximately $379,678,000. Van ECK Associates Corp boosted its stake in shares of KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after buying an additional 211,227 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of KLA by 2,205.8% in the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after acquiring an additional 192,849 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of KLA by 136.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock worth $214,667,000 after acquiring an additional 178,474 shares during the period. Finally, Findlay Park Partners LLP lifted its holdings in KLA by 56.2% in the first quarter. Findlay Park Partners LLP now owns 302,782 shares of the semiconductor company’s stock valued at $211,514,000 after acquiring an additional 108,900 shares during the period. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on KLAC. Susquehanna cut their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Evercore ISI raised their price target on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays upped their price objective on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Oppenheimer assumed coverage on KLA in a research note on Wednesday, September 25th. They set a “market perform” rating and a $750.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $804.57.

KLA Trading Up 3.2 %

Shares of NASDAQ KLAC opened at $829.65 on Tuesday. KLA Co. has a 1-year low of $452.01 and a 1-year high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The business’s 50 day moving average is $774.25 and its two-hundred day moving average is $765.24. The stock has a market capitalization of $111.70 billion, a P/E ratio of 43.46, a PEG ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. KLA’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.40 EPS. As a group, research analysts expect that KLA Co. will post 29.13 EPS for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.70%. KLA’s dividend payout ratio is 30.38%.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the transaction, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock worth $14,532,193 over the last quarter. Company insiders own 0.12% of the company’s stock.

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.