Empowered Funds LLC Has $9.57 Million Holdings in KLA Co. (NASDAQ:KLAC)

Empowered Funds LLC raised its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,357 shares of the semiconductor company's stock after buying an additional 1,360 shares during the quarter. Empowered Funds LLC's holdings in KLA were worth $9,569,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and upped their price target for the company from $750.00 to $850.00 in a report on Thursday, October 31st. TD Cowen reduced their target price on KLA from $760.00 to $725.00 and set a "hold" rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of KLA from $735.00 to $838.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Finally, Evercore ISI upped their price objective on KLA from $800.00 to $900.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $802.90.

KLA Stock Performance

Shares of KLAC stock traded down $30.54 during trading hours on Friday, reaching $614.46. 1,712,201 shares of the company's stock were exchanged, compared to its average volume of 961,993. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $82.19 billion, a P/E ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 1.29. The business has a fifty day moving average price of $721.02 and a 200-day moving average price of $762.59.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share 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 firm's revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company earned $5.74 earnings per share. Analysts predict that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This is a boost from KLA's previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. KLA's dividend payout ratio (DPR) is currently 31.05%.

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.