Empowered Funds LLC Has $9.57 Million Position in KLA Co. (NASDAQ:KLAC)

Empowered Funds LLC lifted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,357 shares of the semiconductor company’s stock after buying an additional 1,360 shares during the period. Empowered Funds LLC’s holdings in KLA were worth $9,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cedar Wealth Management LLC raised its stake in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares in the last quarter. Family Firm Inc. bought a new stake in KLA during the second quarter worth $30,000. Capital Performance Advisors LLP bought a new position in shares of KLA in the 3rd quarter valued at about $38,000. 1620 Investment Advisors Inc. acquired a new position in shares of KLA during the 2nd quarter worth about $44,000. Finally, LRI Investments LLC bought a new stake in shares of KLA in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Argus raised their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays dropped their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

KLA Trading Down 4.7 %

Shares of KLAC opened at $614.46 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32. The firm has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.36 and a beta of 1.29. The business’s fifty day moving average is $721.02 and its 200-day moving average is $762.59.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.74 earnings per share. Equities analysts anticipate that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.11%. KLA’s dividend payout ratio is presently 26.48%.

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.