Fortem Financial Group LLC Buys 119 Shares of KLA Co. (NASDAQ:KLAC)

Fortem Financial Group LLC lifted its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,839 shares of the semiconductor company’s stock after purchasing an additional 119 shares during the period. KLA makes up about 1.4% of Fortem Financial Group LLC’s investment portfolio, making the stock its 18th biggest position. Fortem Financial Group LLC’s holdings in KLA were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. CVA Family Office LLC boosted its position in KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares during the last quarter. Marcum Wealth LLC increased its position in KLA by 4.1% in the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares during the period. Harbor Capital Advisors Inc. raised its holdings in KLA by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 16 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in KLA by 0.4% during the 3rd quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after purchasing an additional 16 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of KLA by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock valued at $451,000 after purchasing an additional 16 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

KLA stock traded up $33.70 during trading hours on Monday, hitting $690.71. The company had a trading volume of 1,094,847 shares, compared to its average volume of 928,033. KLA Co. has a one year low of $548.84 and a one year high of $896.32. The firm has a market cap of $92.39 billion, a PE ratio of 31.54, a PEG ratio of 1.39 and a beta of 1.27. The firm has a 50-day moving average of $649.53 and a 200 day moving average of $732.79. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company earned $5.74 EPS. The business’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts expect that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.98%. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KLAC. Deutsche Bank Aktiengesellschaft cut their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Morgan Stanley decreased their target price on KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price target on shares of KLA from $870.00 to $800.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Eight 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.com, KLA currently has an average rating of “Moderate Buy” and a consensus target price of $816.63.

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.