Allen Capital Group LLC Buys Shares of 3,383 KLA Co. (NASDAQ:KLAC)

Allen Capital Group LLC purchased a new position in shares of KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,383 shares of the semiconductor company’s stock, valued at approximately $2,132,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in KLA in the third quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in KLA in the third quarter valued at approximately $38,000. FSA Wealth Management LLC purchased a new position in KLA in the third quarter worth approximately $53,000. Peterson Financial Group Inc. acquired a new position in KLA during the 3rd quarter worth approximately $56,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of KLA during the 3rd quarter worth $58,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of research analyst reports. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a research report on Monday, January 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Susquehanna increased their target price on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on shares of KLA from $800.00 to $795.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $812.47.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $715.07 on Wednesday. KLA Co. has a 12-month low of $581.70 and a 12-month high of $896.32. The company has a market cap of $95.65 billion, a PE ratio of 32.65, a P/E/G ratio of 1.66 and a beta of 1.27. The stock has a 50 day simple moving average of $669.84 and a 200-day simple moving average of $718.54. 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 (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.74 earnings per share. On average, equities research analysts forecast that KLA Co. will post 30.34 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is presently 31.05%.

About KLA

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.