Continuum Advisory LLC Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Continuum Advisory LLC raised its position in KLA Co. (NASDAQ:KLAC) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 526 shares of the semiconductor company’s stock after purchasing an additional 61 shares during the period. Continuum Advisory LLC’s holdings in KLA were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KLAC. CVA Family Office LLC lifted its stake in shares of KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares during the period. TIAA Trust National Association lifted its stake in shares of KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 14 shares during the period. Ameritas Advisory Services LLC boosted its holdings in shares of KLA by 1.2% during the second quarter. Ameritas Advisory Services LLC now owns 1,280 shares of the semiconductor company’s stock worth $1,055,000 after purchasing an additional 15 shares during the last quarter. Greystone Financial Group LLC grew its position in shares of KLA by 1.3% in the second quarter. Greystone Financial Group LLC now owns 1,188 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 15 shares during the period. Finally, Marcum Wealth LLC increased its stake in KLA by 4.1% in the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 15 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Down 1.6 %

KLAC opened at $641.87 on Wednesday. The firm’s 50 day moving average is $684.86 and its 200-day moving average is $753.35. KLA Co. has a 52-week low of $542.41 and a 52-week high of $896.32. 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 firm has a market capitalization of $85.86 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.38 and a beta of 1.28.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (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 the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.74 EPS. Analysts expect that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were issued a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.06%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 31.05%.

Analyst Ratings Changes

KLAC has been the topic of a number of research analyst reports. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $812.30.

About KLA

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.