Heritage Wealth Management Inc. Lowers Holdings in KLA Co. (NASDAQ:KLAC)

Heritage Wealth Management Inc. trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,183 shares of the semiconductor company’s stock after selling 40 shares during the quarter. Heritage Wealth Management Inc.’s holdings in KLA were worth $1,376,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in KLA in the third quarter valued at $29,000. Groupama Asset Managment boosted its holdings in KLA by 82.3% in the third quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 2,038 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in KLA in the third quarter valued at $38,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in KLA in the fourth quarter valued at $43,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in KLA in the fourth quarter valued at $47,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on KLAC. UBS Group upped their price objective on shares of KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on shares of KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Stifel Nicolaus upped their price objective on shares of KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald upped their price objective on shares of KLA from $800.00 to $875.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $831.68.

KLA Stock Up 1.4 %

KLAC opened at $708.84 on Friday. The company has a market cap of $94.20 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a twelve month low of $609.40 and a twelve month high of $896.32. The company has a 50-day moving average price of $716.87 and a 200 day moving average price of $714.86.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, beating 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%. Sell-side analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 0.96%. 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.