KLA Co. (NASDAQ:KLAC) Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,659 shares of the semiconductor company’s stock after purchasing an additional 76 shares during the quarter. KLA comprises about 1.5% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 16th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in KLA were worth $7,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in KLA during the 2nd quarter valued at $30,000. Cedar Wealth Management LLC grew its holdings in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. Capital Performance Advisors LLP purchased a new position in KLA in the third quarter valued at approximately $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA during the second quarter valued at approximately $44,000. Finally, LRI Investments LLC purchased a new stake in KLA during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLA stock traded down $30.54 on Friday, reaching $614.46. 1,712,201 shares of the company were exchanged, compared to its average volume of 961,993. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The firm has a market cap of $82.19 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company’s 50-day moving average is $721.02 and its two-hundred day moving average is $762.59.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion for 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 quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business posted $5.74 earnings per share. As a group, research analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.11%. KLA’s payout ratio is currently 26.48%.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of research reports. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays dropped their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup decreased their price target on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

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.