Kolinsky Wealth Management LLC Increases Position in KLA Co. (NASDAQ:KLAC)

Kolinsky Wealth Management LLC grew its stake in KLA Co. (NASDAQ:KLAC) by 4.2% during the third quarter, HoldingsChannel reports. The fund owned 425 shares of the semiconductor company’s stock after acquiring an additional 17 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in KLA were worth $329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC increased its stake in shares of KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 13 shares in the last quarter. HBW Advisory Services LLC increased its stake in shares of KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares in the last quarter. TIAA Trust National Association increased its stake in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after purchasing an additional 14 shares in the last quarter. AA Financial Advisors LLC increased its stake in shares of KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 15 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its stake in KLA by 1.2% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,280 shares of the semiconductor company’s stock worth $1,055,000 after buying an additional 15 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Trading Up 2.4 %

KLAC opened at $647.03 on Friday. KLA Co. has a one year low of $527.11 and a one year high of $896.32. The stock has a market capitalization of $86.55 billion, a PE ratio of 29.54, a P/E/G ratio of 1.33 and a beta of 1.29. The business’s 50 day moving average price is $699.34 and its 200 day moving average price is $757.61. 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 released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm posted $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts expect that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is 31.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KLAC shares. TD Cowen cut their price objective on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

KLA Company 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.