Toroso Investments LLC Boosts Holdings in KLA Co. (NASDAQ:KLAC)

Toroso Investments LLC raised its holdings in KLA Co. (NASDAQ:KLAC – Get Rating) by 3.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,233 shares of the semiconductor company’s stock after acquiring an additional 134 shares during the period. Toroso Investments LLC’s holdings in KLA were worth $1,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC purchased a new stake in KLA in the 2nd quarter valued at about $30,000. Wellington Shields & Co. LLC purchased a new stake in KLA in the 2nd quarter valued at about $32,000. Standard Family Office LLC purchased a new stake in KLA in the 3rd quarter valued at about $46,000. CoreCap Advisors LLC purchased a new stake in KLA in the 2nd quarter valued at about $60,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of KLA during the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

KLA Stock Performance

Shares of KLAC opened at $387.75 on Friday. The business’s 50 day moving average is $397.35 and its two-hundred day moving average is $364.13. KLA Co. has a 52-week low of $250.20 and a 52-week high of $429.46. The firm has a market cap of $53.70 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.10 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 2.35.

KLA (NASDAQ:KLAC – Get Rating) last announced its earnings results on Thursday, January 26th. The semiconductor company reported $7.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.08 by $0.30. KLA had a return on equity of 145.21% and a net margin of 33.77%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the company posted $5.59 EPS. KLA’s quarterly revenue was up 26.8% on a year-over-year basis. Analysts forecast that KLA Co. will post 24.26 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Monday, February 13th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, February 10th. KLA’s payout ratio is 21.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on KLA from $420.00 to $455.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. KGI Securities cut KLA from an “outperform” rating to a “neutral” rating in a report on Wednesday, March 1st. Morgan Stanley boosted their target price on KLA from $318.00 to $422.00 and gave the stock an “equal weight” rating in a report on Friday, January 27th. KeyCorp boosted their target price on KLA from $410.00 to $468.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft cut KLA from a “buy” rating to a “hold” rating and boosted their target price for the stock from $370.00 to $400.00 in a report on Monday, December 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.61.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 1,020 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $380.47, for a total transaction of $388,079.40. Following the sale, the chief financial officer now directly owns 63,352 shares of the company’s stock, valued at approximately $24,103,535.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

About KLA

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KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments: Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection, and Other.