Strong Tower Advisory Services Boosts Stake in KLA Co. (NASDAQ:KLAC)

Strong Tower Advisory Services increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,008 shares of the semiconductor company’s stock after purchasing an additional 48 shares during the period. Strong Tower Advisory Services’ holdings in KLA were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KLAC. Fortitude Family Office LLC acquired a new stake in KLA during the 4th quarter worth approximately $25,000. Resurgent Financial Advisors LLC acquired a new stake in KLA during the 4th quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in KLA during the 3rd quarter worth approximately $26,000. Operose Advisors LLC acquired a new stake in KLA during the 3rd quarter worth approximately $26,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of KLA in the 4th quarter valued at $29,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the transaction, the executive vice president now owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the transaction, the executive vice president now owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the transaction, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KLAC. The Goldman Sachs Group raised their price objective on shares of KLA from $560.00 to $640.00 and gave the company a “buy” rating in a report on Friday, January 26th. New Street Research started coverage on shares of KLA in a research note on Monday, December 18th. They set a “buy” rating and a $730.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $625.00 price target on shares of KLA in a research note on Monday, March 4th. Wells Fargo & Company lifted their price target on shares of KLA from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, TD Cowen raised their price objective on shares of KLA from $525.00 to $650.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, KLA has an average rating of “Hold” and a consensus target price of $641.05.

KLA Stock Performance

Shares of KLAC opened at $698.57 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. The stock has a market cap of $94.47 billion, a P/E ratio of 35.48, a PEG ratio of 3.38 and a beta of 1.34. The company has a 50-day moving average of $660.14 and a two-hundred day moving average of $567.36. KLA Co. has a 12-month low of $355.88 and a 12-month high of $729.15.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.91 by $0.25. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.38 earnings per share. As a group, research analysts predict that KLA Co. will post 22.74 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, February 15th. KLA’s dividend payout ratio is presently 29.46%.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.