Pines Wealth Management LLC Invests $838,000 in KLA Co. (NASDAQ:KLAC)

Pines Wealth Management LLC purchased a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,227 shares of the semiconductor company's stock, valued at approximately $838,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp lifted its stake in KLA by 2.5% during the third quarter. State Street Corp now owns 5,979,293 shares of the semiconductor company's stock worth $4,630,424,000 after purchasing an additional 145,317 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company's stock valued at $2,647,708,000 after buying an additional 3,408,617 shares in the last quarter. Geode Capital Management LLC lifted its position in KLA by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,221,694 shares of the semiconductor company's stock worth $2,487,971,000 after buying an additional 93,743 shares during the last quarter. Van ECK Associates Corp boosted its stake in KLA by 25.7% in the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company's stock worth $1,083,684,000 after buying an additional 286,015 shares in the last quarter. Finally, Legal & General Group Plc grew its position in KLA by 1.9% during the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company's stock valued at $959,695,000 after acquiring an additional 21,412 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of recent research reports. Susquehanna lowered their price objective on shares of KLA from $680.00 to $675.00 and set a "neutral" rating for the company in a report on Friday, October 11th. The Goldman Sachs Group lowered their price target on shares of KLA from $850.00 to $759.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Oppenheimer raised KLA from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com lowered KLA from a "buy" rating to a "hold" rating in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $809.10.

KLA Stock Up 2.1 %

KLAC traded up $14.99 on Wednesday, hitting $716.25. The company had a trading volume of 1,361,324 shares, compared to its average volume of 1,195,648. The stock has a fifty day simple moving average of $651.44 and a 200-day simple moving average of $726.56. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The firm has a market capitalization of $95.81 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.39 and a beta of 1.27. KLA Co. has a 52-week low of $552.85 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts' consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during 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 for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.74 EPS. As a group, equities analysts expect that KLA Co. will post 30.61 EPS for the current fiscal 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 given a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from KLA's previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.95%. KLA's dividend payout ratio is currently 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.