Wahed Invest LLC Acquires 409 Shares of KLA Co. (NASDAQ:KLAC)

Wahed Invest LLC boosted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,270 shares of the semiconductor company’s stock after acquiring an additional 409 shares during the period. Wahed Invest LLC’s holdings in KLA were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KLAC. Kingswood Wealth Advisors LLC grew its holdings in KLA by 15.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $382,000 after acquiring an additional 63 shares in the last quarter. CWM LLC lifted its position in shares of KLA by 9.8% during the second quarter. CWM LLC now owns 2,971 shares of the semiconductor company’s stock valued at $2,450,000 after buying an additional 266 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of KLA during the second quarter valued at about $65,000. Diversify Advisory Services LLC lifted its position in shares of KLA by 3.2% during the second quarter. Diversify Advisory Services LLC now owns 746 shares of the semiconductor company’s stock valued at $653,000 after buying an additional 23 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of KLA by 2,046.7% during the second quarter. Sound Income Strategies LLC now owns 322 shares of the semiconductor company’s stock valued at $265,000 after buying an additional 307 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

KLA stock opened at $642.61 on Friday. KLA Co. has a 12 month low of $527.44 and a 12 month high of $896.32. 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 business has a 50 day simple moving average of $689.99 and a 200-day simple moving average of $755.21. The stock has a market capitalization of $85.96 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. KLA’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.74 earnings per share. Equities analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were issued a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.06%. KLA’s dividend payout ratio is 31.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KLAC shares. Morgan Stanley decreased their price objective on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Citigroup reduced their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Barclays dropped their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average target price of $815.80.

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.