Concord Wealth Partners Raises Stock Holdings in KLA Co. (NASDAQ:KLAC)

Concord Wealth Partners raised its holdings in KLA Co. (NASDAQ:KLAC) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,948 shares of the semiconductor company’s stock after purchasing an additional 603 shares during the period. Concord Wealth Partners’ holdings in KLA were worth $1,228,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KLAC. Legacy Investment Solutions LLC bought a new position in KLA during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in KLA during the third quarter valued at $38,000. FSA Wealth Management LLC acquired a new stake in shares of KLA during the third quarter worth $53,000. Peterson Financial Group Inc. bought a new position in shares of KLA in the 3rd quarter worth about $56,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of KLA during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Down 0.6 %

NASDAQ KLAC opened at $738.24 on Friday. The company has a market capitalization of $98.75 billion, a P/E ratio of 33.71, a PEG ratio of 1.54 and a beta of 1.27. KLA Co. has a 12 month low of $581.70 and a 12 month high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company’s 50 day simple moving average is $673.99 and its 200 day simple moving average is $718.67.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data 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 return on equity of 105.16% and a net margin of 28.92%. Equities research analysts expect that KLA Co. will post 30.34 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 0.92%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of recent research reports. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of KLA from $800.00 to $825.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC lifted their target price on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target of $829.32.

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.