Savvy Advisors Inc. Makes New $226,000 Investment in KLA Co. (NASDAQ:KLAC)

Savvy Advisors Inc. bought a new stake in shares of KLA Co. (NASDAQ:KLAC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 291 shares of the semiconductor company’s stock, valued at approximately $226,000.

Other hedge funds have also recently made changes to their positions in the company. Cedar Wealth Management LLC boosted its holdings in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares in the last quarter. Family Firm Inc. bought a new position in KLA in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in KLA during the 3rd quarter valued at about $38,000. 1620 Investment Advisors Inc. bought a new stake in KLA during the 2nd quarter valued at about $44,000. Finally, LRI Investments LLC bought a new position in shares of KLA in the first quarter worth approximately $45,000. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

KLA stock opened at $644.55 on Thursday. The company has a 50 day moving average price of $726.46 and a 200-day moving average price of $764.95. The company has a market capitalization of $86.22 billion, a PE ratio of 29.43, a P/E/G ratio of 1.40 and a beta of 1.29. 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.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.74 EPS. As a group, equities analysts forecast that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be issued a $1.70 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 26.48%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KLAC. Needham & Company LLC restated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Susquehanna lowered their target price on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $802.90.

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.