Penserra Capital Management LLC Lowers Position in KLA Co. (NASDAQ:KLAC)

Penserra Capital Management LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 10.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,696 shares of the semiconductor company’s stock after selling 633 shares during the period. Penserra Capital Management LLC’s holdings in KLA were worth $4,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Capital Market Strategies LLC increased its holdings in KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after buying an additional 13 shares in the last quarter. CVA Family Office LLC boosted its position in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 13 shares in the last quarter. HBW Advisory Services LLC grew its holdings in KLA by 2.6% in the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares during the period. TIAA Trust National Association increased its position in shares of KLA by 0.4% in the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after buying an additional 14 shares in the last quarter. Finally, AA Financial Advisors LLC raised its stake in shares of KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after buying an additional 15 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on KLAC shares. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. UBS Group reduced their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company lowered their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. Finally, Barclays decreased their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and an average target price of $815.55.

KLA Stock Performance

KLA stock opened at $639.55 on Monday. The stock has a market cap of $85.55 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. 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 firm has a 50 day simple moving average of $710.36 and a 200-day simple moving average of $760.93. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32.

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, topping 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 company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the firm earned $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, analysts expect 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. Shareholders of record on Monday, November 18th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.06%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is presently 31.05%.

KLA Company 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.