Horizon Kinetics Asset Management LLC Purchases 1,121 Shares of KLA Co. (NASDAQ:KLAC)

Horizon Kinetics Asset Management LLC boosted its holdings in KLA Co. (NASDAQ:KLAC) by 30.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,849 shares of the semiconductor company’s stock after purchasing an additional 1,121 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in KLA were worth $3,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. purchased a new stake in shares of KLA during the second quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in KLA during the 3rd quarter valued at approximately $38,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA during the second quarter valued at approximately $44,000. LRI Investments LLC purchased a new position in shares of KLA in the first quarter worth $45,000. Finally, Olistico Wealth LLC bought a new position in shares of KLA during the second quarter worth $53,000. 86.65% of the stock is owned by institutional investors.

KLA Trading Up 1.1 %

Shares of NASDAQ KLAC opened at $646.78 on Monday. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company has a market cap of $86.51 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.35 and a beta of 1.29. The business’s 50 day moving average price is $710.36 and its 200-day moving average price is $760.93.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping 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 return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.74 earnings per share. On average, sell-side analysts expect that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.05%. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. KLA’s payout ratio is 31.05%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Barclays reduced their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. UBS Group dropped their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $815.55.

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.