KLA Co. (NASDAQ:KLAC) Shares Sold by Beta Wealth Group Inc.

Beta Wealth Group Inc. reduced its position in shares of KLA Co. (NASDAQ:KLAC) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 494 shares of the semiconductor company’s stock after selling 40 shares during the period. Beta Wealth Group Inc.’s holdings in KLA were worth $383,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

KLAC has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Argus boosted their target price on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Stock Performance

KLAC opened at $687.41 on Friday. The business has a fifty day simple moving average of $731.06 and a 200-day simple moving average of $763.72. The firm has a market cap of $91.95 billion, a PE ratio of 31.39, a P/E/G ratio of 1.41 and a beta of 1.29. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a fifty-two week low of $505.50 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data 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. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.74 EPS. As a group, equities analysts predict that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s payout ratio is 26.48%.

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.