West Tower Group LLC Takes Position in KLA Co. (NASDAQ:KLAC)

West Tower Group LLC bought a new position in KLA Co. (NASDAQ:KLAC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 500 shares of the semiconductor company's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KLAC. Swedbank AB lifted its stake in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company's stock valued at $426,660,000 after buying an additional 2,019 shares during the last quarter. United Bank bought a new position in KLA in the 3rd quarter worth about $339,000. AMG National Trust Bank increased its stake in shares of KLA by 142.4% in the third quarter. AMG National Trust Bank now owns 686 shares of the semiconductor company's stock valued at $532,000 after purchasing an additional 403 shares during the period. Quest Partners LLC raised its holdings in shares of KLA by 39.8% during the third quarter. Quest Partners LLC now owns 1,293 shares of the semiconductor company's stock valued at $1,001,000 after buying an additional 368 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in KLA by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 17,764 shares of the semiconductor company's stock worth $13,756,000 after buying an additional 367 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Down 1.4 %

Shares of KLAC stock traded down $9.97 during trading hours on Friday, reaching $706.49. 2,454,762 shares of the stock traded hands, compared to its average volume of 954,804. The business has a fifty day moving average price of $729.52 and a 200 day moving average price of $703.53. KLA Co. has a 1-year low of $609.40 and a 1-year high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $93.88 billion, a PE ratio of 29.71, a PEG ratio of 1.57 and a beta of 1.30.

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KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating analysts' consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, equities research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 0.96%. KLA's payout ratio is 28.60%.

Analyst Upgrades and Downgrades

KLAC has been the topic of several recent analyst reports. StockNews.com downgraded KLA from a "buy" rating to a "hold" rating in a research note on Wednesday, November 27th. Barclays upped their price objective on shares of KLA from $700.00 to $760.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Susquehanna increased their price objective on shares of KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group boosted their target price on KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $830.67.

KLA Company 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.