Independent Advisor Alliance Has $2.42 Million Holdings in KLA Co. (NASDAQ:KLAC)

Independent Advisor Alliance reduced its holdings in KLA Co. (NASDAQ:KLAC) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,122 shares of the semiconductor company’s stock after selling 26 shares during the quarter. Independent Advisor Alliance’s holdings in KLA were worth $2,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Family Firm Inc. bought a new position in KLA in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP bought a new position in KLA in the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new position in KLA in the 2nd quarter worth approximately $44,000. LRI Investments LLC bought a new position in KLA in the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC bought a new position in KLA in the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

Shares of NASDAQ KLAC opened at $644.67 on Tuesday. The firm has a market cap of $86.23 billion, a PE ratio of 29.44, a PEG ratio of 1.35 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The company has a fifty day moving average price of $708.52 and a 200 day moving average price of $760.47.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.74 EPS. Research analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 dividend yield of 1.05%. This is an increase 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 currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the subject of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Barclays dropped their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $750.00 to $850.00 in a research report on Thursday, October 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 research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $815.55.

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.