CWA Asset Management Group LLC Invests $2.24 Million in KLA Co. (NASDAQ:KLAC)

CWA Asset Management Group LLC acquired a new stake in KLA Co. (NASDAQ:KLAC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,895 shares of the semiconductor company's stock, valued at approximately $2,242,000.

Other hedge funds have also recently bought and sold shares of the company. Cedar Wealth Management LLC raised its position in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. acquired a new position in shares of KLA in the second quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA in the third quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA during the second quarter valued at $44,000. Finally, LRI Investments LLC purchased a new stake in KLA during the 1st quarter worth about $45,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft cut their price target on KLA from $890.00 to $750.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Susquehanna decreased their price target on KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. TD Cowen lowered their price target on KLA from $760.00 to $725.00 and set a "hold" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of KLA from $760.00 to $875.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of KLA from $800.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $802.90.

KLA Stock Performance

KLA stock traded up $1.26 during mid-day trading on Friday, hitting $687.41. 1,278,083 shares of the company's stock traded hands, compared to its average volume of 1,220,755. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a one year low of $505.50 and a one year high of $896.32. The firm has a 50 day moving average price of $731.06 and a 200 day moving average price of $764.53. The company has a market cap of $91.95 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business's revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $5.74 earnings per share. On average, equities analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 0.99%. This is a boost from KLA's previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA's payout ratio is presently 26.48%.

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.