W.H. Cornerstone Investments Inc. Reduces Stake in KLA Co. (NASDAQ:KLAC)

W.H. Cornerstone Investments Inc. lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 369 shares of the semiconductor company’s stock after selling 67 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in KLA were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB acquired a new stake in shares of KLA during the 1st quarter worth approximately $379,678,000. International Assets Investment Management LLC grew its position in KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after acquiring an additional 301,987 shares during the period. Van ECK Associates Corp increased its stake in KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after acquiring an additional 286,015 shares during the last quarter. Assenagon Asset Management S.A. raised its position in KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after purchasing an additional 235,597 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock valued at $166,215,000 after purchasing an additional 192,849 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KLAC. Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday. The Goldman Sachs Group increased their price objective on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup decreased their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Stock Down 0.9 %

KLAC stock opened at $663.37 on Tuesday. KLA Co. has a 52 week low of $495.10 and a 52 week high of $896.32. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The company has a market cap of $88.73 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.41 and a beta of 1.29. The company’s 50-day moving average price is $741.44 and its 200 day moving average price is $764.25.

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, topping analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.74 EPS. On average, research analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

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.