Pinnacle Wealth Management Advisory Group LLC Grows Position in KLA Co. (NASDAQ:KLAC)

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of KLA Co. (NASDAQ:KLAC) by 3.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,699 shares of the semiconductor company’s stock after purchasing an additional 92 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in KLA were worth $1,701,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of KLA by 2.5% during the 3rd quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company’s stock worth $4,630,424,000 after purchasing an additional 145,317 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after purchasing an additional 3,408,617 shares during the period. Geode Capital Management LLC boosted its position in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company’s stock valued at $2,487,971,000 after buying an additional 93,743 shares during the period. Van ECK Associates Corp boosted its position in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after buying an additional 286,015 shares during the period. Finally, Alkeon Capital Management LLC boosted its position in KLA by 5.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 945,835 shares of the semiconductor company’s stock valued at $732,464,000 after buying an additional 49,470 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KLAC has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of KLA from $800.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on shares of KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research report on Friday, January 31st. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Finally, TD Cowen reduced their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $831.68.

KLA Trading Down 1.8 %

NASDAQ KLAC opened at $750.74 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. The firm has a market cap of $99.77 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The company has a 50 day moving average price of $697.11 and a 200 day moving average price of $714.99. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate 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 forecast that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, February 24th. KLA’s dividend payout ratio is presently 28.60%.

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.