Jackson Square Capital LLC Sells 560 Shares of KLA Co. (NASDAQ:KLAC)

Jackson Square Capital LLC reduced its position in shares of KLA Co. (NASDAQ:KLAC) by 6.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,483 shares of the semiconductor company’s stock after selling 560 shares during the quarter. KLA accounts for about 1.6% of Jackson Square Capital LLC’s investment portfolio, making the stock its 16th biggest holding. Jackson Square Capital LLC’s holdings in KLA were worth $6,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB grew its stake in shares of KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after acquiring an additional 2,019 shares during the period. Community Financial Services Group LLC grew its stake in shares of KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after acquiring an additional 6,279 shares during the period. Eastern Bank grew its stake in shares of KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after acquiring an additional 23,747 shares during the period. Sei Investments Co. grew its stake in shares of KLA by 16.0% in the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after acquiring an additional 10,594 shares during the period. Finally, Generate Investment Management Ltd grew its stake in shares of KLA by 39.0% in the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after acquiring an additional 1,651 shares during the period. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

KLAC stock opened at $669.66 on Thursday. The company has a market capitalization of $89.57 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company’s fifty day moving average price is $735.90 and its 200-day moving average price is $763.89. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a one year low of $498.57 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.74 earnings per share. On average, equities analysts anticipate that KLA Co. will post 30.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KLAC. Evercore ISI lifted their price target on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. TD Cowen cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.