KLA Co. (NASDAQ:KLAC) Shares Sold by CGN Advisors LLC

CGN Advisors LLC cut its holdings in KLA Co. (NASDAQ:KLAC) by 16.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,908 shares of the semiconductor company’s stock after selling 756 shares during the period. CGN Advisors LLC’s holdings in KLA were worth $2,463,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in KLAC. CVA Family Office LLC boosted its stake in KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the last quarter. Marcum Wealth LLC increased its position in KLA by 4.1% during the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in KLA by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 16 shares during the period. Ascent Wealth Partners LLC boosted its holdings in shares of KLA by 0.4% in the 3rd quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after purchasing an additional 16 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of KLA by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Trading Up 1.4 %

Shares of NASDAQ KLAC opened at $757.47 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $101.32 billion, a P/E ratio of 34.59, a PEG ratio of 1.47 and a beta of 1.27. KLA Co. has a 52-week low of $577.00 and a 52-week high of $896.32. The stock’s 50 day moving average price is $654.99 and its two-hundred day moving average price is $726.15.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company posted $5.74 earnings per share. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, analysts anticipate that KLA Co. will post 30.37 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA’s dividend payout ratio (DPR) is 31.05%.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of research reports. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Morgan Stanley dropped 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, December 5th. Finally, Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Seven 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $806.60.

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.