Strategic Financial Concepts LLC Takes Position in KLA Co. (NASDAQ:KLAC)

Strategic Financial Concepts LLC purchased a new position in shares of KLA Co. (NASDAQ:KLAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,127 shares of the semiconductor company’s stock, valued at approximately $17,093,000. KLA makes up 0.5% of Strategic Financial Concepts LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of KLA by 3.3% during the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 13 shares in the last quarter. Richardson Financial Services Inc. grew its stake in KLA by 5.9% during the fourth quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company’s stock worth $160,000 after buying an additional 14 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in KLA by 6.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company’s stock valued at $155,000 after buying an additional 15 shares during the period. Catalyst Financial Partners LLC increased its holdings in KLA by 2.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company’s stock valued at $476,000 after buying an additional 15 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of KLA by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after buying an additional 16 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KLAC shares. Needham & Company LLC lifted their price objective on shares of KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Susquehanna lifted their price target on KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. 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 research report on Thursday, October 31st. Barclays lifted their target price on KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, TD Cowen dropped their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average price target of $831.68.

KLA Stock Down 1.8 %

KLA stock opened at $750.74 on Friday. The firm has a market cap of $99.77 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.54 and a beta of 1.28. KLA Co. has a 52-week low of $609.40 and a 52-week high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The firm has a 50 day moving average price of $697.11 and a two-hundred day moving average price of $714.99.

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

KLA Dividend Announcement

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

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.