Modern Wealth Management LLC Takes Position in KLA Co. (NASDAQ:KLAC)

Modern Wealth Management LLC acquired a new position in KLA Co. (NASDAQ:KLAC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 327 shares of the semiconductor company’s stock, valued at approximately $206,000.

A number of other hedge funds also recently bought and sold shares of KLAC. Legacy Investment Solutions LLC bought a new stake in shares of KLA in the 3rd quarter valued at about $29,000. Tortoise Investment Management LLC boosted its stake in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC purchased a new position in KLA in the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA during the fourth quarter worth $32,000. Finally, Fairfield Financial Advisors LTD lifted its holdings in shares of KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Down 3.8 %

KLA stock opened at $673.60 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32. The business’s 50-day moving average price is $727.83 and its 200 day moving average price is $703.11. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, sell-side analysts anticipate that KLA Co. will post 31.59 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.01%. KLA’s dividend payout ratio is currently 28.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KLAC shares. Stifel Nicolaus boosted their target price on KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays lifted their target price on shares of KLA from $700.00 to $760.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Needham & Company LLC upped their price target on shares of KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $725.00 price objective (down from $875.00) on shares of KLA in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $825.39.

Insider Buying and Selling at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.12% of the stock is owned by corporate insiders.

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.