KLA Co. (NASDAQ:KLAC) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its position in shares of KLA Co. (NASDAQ:KLAC) by 36.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 549 shares of the semiconductor company’s stock after selling 320 shares during the period. Cynosure Group LLC’s holdings in KLA were worth $425,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in KLA during the second quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of KLA in the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new stake in KLA during the 2nd quarter worth $44,000. LRI Investments LLC purchased a new stake in KLA in the first quarter valued at $45,000. Finally, Olistico Wealth LLC acquired a new position in KLA in the second quarter valued at $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

KLAC has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen cut their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $815.55.

KLA Stock Performance

Shares of KLAC opened at $632.14 on Thursday. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The stock has a market cap of $84.56 billion, a P/E ratio of 28.86, a PEG ratio of 1.36 and a beta of 1.29. 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 50-day moving average of $704.38 and a two-hundred day moving average of $758.96.

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 the consensus estimate of $7.03 by $0.30. The company had revenue of $2.84 billion during 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%. KLA’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.74 earnings per share. As a group, research analysts predict that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

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.