Modern Wealth Management LLC Makes New Investment in KLA Co. (NASDAQ:KLAC)

Modern Wealth Management LLC acquired a new stake in shares of KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 327 shares of the semiconductor company’s stock, valued at approximately $206,000.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in KLA in the 3rd quarter worth $29,000. Tortoise Investment Management LLC grew its position in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new stake in KLA during the 4th quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in KLA in the 4th quarter worth approximately $32,000. Finally, Groupama Asset Managment boosted its stake in KLA by 82.3% in the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,038 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KLAC. Wells Fargo & Company boosted their target price on shares of KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday. Barclays raised their price objective on KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Morgan Stanley boosted their target price on KLA from $703.00 to $748.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Finally, Cantor Fitzgerald raised their price target on KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $825.39.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares of the company’s stock, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.12% of the company’s stock.

KLA Price Performance

KLAC stock opened at $673.60 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. KLA Co. has a 12 month low of $609.40 and a 12 month high of $896.32. The stock has a market cap of $89.51 billion, a PE ratio of 28.33, a P/E/G ratio of 1.57 and a beta of 1.30. The company has a 50-day moving average price of $727.83 and a 200 day moving average price of $703.11.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. Equities research analysts anticipate that KLA Co. will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.01%. KLA’s payout ratio is 28.60%.

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.