Townsquare Capital LLC Buys 1,019 Shares of KLA Co. (NASDAQ:KLAC)

Townsquare Capital LLC grew its position in KLA Co. (NASDAQ:KLAC) by 60.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,705 shares of the semiconductor company’s stock after acquiring an additional 1,019 shares during the period. Townsquare Capital LLC’s holdings in KLA were worth $2,095,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in shares of KLA during the second quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in KLA during the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new stake in KLA during the 2nd quarter worth approximately $44,000. Olistico Wealth LLC acquired a new position in KLA in the 2nd quarter valued at approximately $53,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of KLA during the second quarter valued at $59,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

NASDAQ KLAC opened at $647.03 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The company has a fifty day simple moving average of $699.34 and a 200 day simple moving average of $757.81. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The company has a market cap of $86.55 billion, a P/E ratio of 29.54, a PEG ratio of 1.33 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted 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 company had revenue of $2.84 billion for 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 firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.74 EPS. Sell-side analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

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

Analysts Set New Price Targets

KLAC has been the subject of a number of recent research reports. TD Cowen decreased their price objective on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Barclays lowered their price objective on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup reduced their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Eight equities 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, KLA has a consensus rating of “Moderate Buy” and an average 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.