Cypress Capital Group Sells 42 Shares of KLA Co. (NASDAQ:KLAC)

Cypress Capital Group lowered its position in shares of KLA Co. (NASDAQ:KLAC) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,441 shares of the semiconductor company’s stock after selling 42 shares during the quarter. Cypress Capital Group’s holdings in KLA were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in KLA during the second quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA during the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the 2nd quarter worth approximately $44,000. LRI Investments LLC bought a new position in KLA during the first quarter valued at $46,000. Finally, Olistico Wealth LLC bought a new position in KLA during the second quarter valued at $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KLAC. Argus upped their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI increased their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company reduced their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Susquehanna cut their price objective on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Trading Up 2.3 %

NASDAQ KLAC opened at $631.22 on Friday. The stock has a 50-day moving average of $712.59 and a 200-day moving average of $760.85. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. 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 $84.43 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the business earned $5.74 earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

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.