Cornerstone Wealth Management LLC Cuts Stock Holdings in KLA Co. (NASDAQ:KLAC)

Cornerstone Wealth Management LLC reduced its stake in KLA Co. (NASDAQ:KLAC) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359 shares of the semiconductor company’s stock after selling 35 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in KLA were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of KLAC. Cerro Pacific Wealth Advisors LLC increased its holdings in shares of KLA by 6.7% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 2,935 shares of the semiconductor company’s stock worth $1,849,000 after buying an additional 185 shares during the last quarter. Lifestyle Asset Management Inc. grew its position in KLA by 8.7% in the fourth quarter. Lifestyle Asset Management Inc. now owns 386 shares of the semiconductor company’s stock worth $243,000 after acquiring an additional 31 shares in the last quarter. MinichMacGregor Wealth Management LLC increased its stake in KLA by 20.0% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 12,508 shares of the semiconductor company’s stock valued at $7,882,000 after acquiring an additional 2,089 shares during the last quarter. Paradiem LLC raised its position in KLA by 33.3% during the fourth quarter. Paradiem LLC now owns 9,905 shares of the semiconductor company’s stock valued at $6,241,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Global Trust Asset Management LLC lifted its stake in KLA by 25.3% during the fourth quarter. Global Trust Asset Management LLC now owns 749 shares of the semiconductor company’s stock worth $472,000 after purchasing an additional 151 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Performance

Shares of KLAC stock opened at $749.82 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a fifty day moving average of $666.45 and a 200 day moving average of $721.89. The firm has a market capitalization of $100.30 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 1.66 and a beta of 1.27. KLA Co. has a 52 week low of $581.70 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm posted $5.74 EPS. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, research analysts expect that KLA Co. will post 30.34 earnings per share for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.91%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the topic of several recent research reports. Barclays reduced their price objective on KLA from $750.00 to $700.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna upped their price objective on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Finally, UBS Group boosted their price target on shares of KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average price target of $812.47.

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.