KLA Co. (NASDAQ:KLAC) Stake Trimmed by Intellectus Partners LLC

Intellectus Partners LLC cut its position in shares of KLA Co. (NASDAQ:KLAC) by 90.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 442 shares of the semiconductor company’s stock after selling 3,999 shares during the period. Intellectus Partners LLC’s holdings in KLA were worth $342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its holdings in shares of KLA by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,499 shares of the semiconductor company’s stock valued at $2,709,000 after acquiring an additional 130 shares during the period. ING Groep NV grew its position in KLA by 52.4% during the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after purchasing an additional 27,436 shares in the last quarter. Lifeworks Advisors LLC raised its stake in KLA by 7.0% during the 3rd quarter. Lifeworks Advisors LLC now owns 2,535 shares of the semiconductor company’s stock valued at $1,963,000 after purchasing an additional 166 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in KLA by 3.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,861 shares of the semiconductor company’s stock valued at $2,990,000 after purchasing an additional 141 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in shares of KLA by 3.7% in the third quarter. Metis Global Partners LLC now owns 5,614 shares of the semiconductor company’s stock valued at $4,348,000 after purchasing an additional 200 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Down 4.7 %

KLAC stock opened at $614.46 on Friday. 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 company has a 50-day moving average of $722.79 and a two-hundred day moving average of $763.28. The stock has a market capitalization of $82.19 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last announced 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. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company earned $5.74 EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Citigroup lowered their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus target price 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.