Harbour Investments Inc. Increases Stock Position in KLA Co. (NASDAQ:KLAC)

Harbour Investments Inc. boosted its position in KLA Co. (NASDAQ:KLAC) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386 shares of the semiconductor company’s stock after buying an additional 23 shares during the quarter. Harbour Investments Inc.’s holdings in KLA were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KLAC. Apollon Wealth Management LLC raised its position in shares of KLA by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,307 shares of the semiconductor company’s stock valued at $3,335,000 after purchasing an additional 155 shares in the last quarter. Versor Investments LP acquired a new stake in KLA in the third quarter valued at $1,008,000. Jaffetilchin Investment Partners LLC bought a new position in KLA during the 3rd quarter valued at $614,000. Chartwell Investment Partners LLC grew its holdings in KLA by 15.2% during the 3rd quarter. Chartwell Investment Partners LLC now owns 22,692 shares of the semiconductor company’s stock worth $17,573,000 after acquiring an additional 2,996 shares in the last quarter. Finally, River Global Investors LLP increased its position in shares of KLA by 497.7% in the 3rd quarter. River Global Investors LLP now owns 23,692 shares of the semiconductor company’s stock worth $18,340,000 after purchasing an additional 19,728 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Down 4.7 %

KLA stock opened at $614.46 on Monday. The company’s 50-day moving average price is $721.02 and its two-hundred day moving average price is $763.10. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.29 and a beta of 1.29. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate 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 net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.74 earnings per share. On average, analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is currently 26.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. 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. The Goldman Sachs Group boosted their price target on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Argus raised their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, UBS Group lowered their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

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.