Orca Wealth Management LLC Buys New Position in KLA Co. (NASDAQ:KLAC)

Orca Wealth Management LLC acquired a new position in KLA Co. (NASDAQ:KLAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 322 shares of the semiconductor company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CVA Family Office LLC boosted its position in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the period. Hutchens & Kramer Investment Management Group LLC raised its position in shares of KLA by 3.3% during the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 13 shares in the last quarter. Marcum Wealth LLC lifted its holdings 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 acquiring an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake 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 buying an additional 16 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in shares of KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock worth $3,459,000 after buying an additional 16 shares during the period. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

KLAC opened at $702.92 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a 52-week low of $581.70 and a 52-week high of $896.32. The stock has a market capitalization of $94.02 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.27. The stock’s 50 day moving average price is $668.09 and its 200-day moving average price is $719.63.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $5.74 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities research analysts predict that KLA Co. will post 30.34 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a $1.70 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.97%. KLA’s payout ratio is 31.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a report on Monday, January 13th. Barclays lowered their price target on KLA from $750.00 to $700.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company dropped their target price on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group reduced their target price on KLA from $850.00 to $759.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $812.47.

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.