KLA Co. (NASDAQ:KLAC) Position Trimmed by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its stake in KLA Co. (NASDAQ:KLAC) by 7.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387 shares of the semiconductor company’s stock after selling 32 shares during the quarter. Sunbelt Securities Inc.’s holdings in KLA were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC increased its position in KLA by 32,828.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock worth $2,647,708,000 after purchasing an additional 3,408,617 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of KLA by 76,452.4% in the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after buying an additional 301,987 shares in the last quarter. Van ECK Associates Corp increased its holdings in KLA by 25.7% in 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 buying an additional 286,015 shares during the last quarter. Assenagon Asset Management S.A. raised its position in KLA by 6,188.5% during 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 acquiring an additional 235,597 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in KLA by 10,766.7% in the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after acquiring an additional 226,100 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Susquehanna dropped their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Barclays decreased their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $812.30.

KLA Stock Performance

NASDAQ KLAC opened at $653.76 on Friday. The company’s fifty day moving average is $674.82 and its two-hundred day moving average is $750.06. KLA Co. has a 52-week low of $542.41 and a 52-week high of $896.32. 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 market capitalization of $87.45 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.38 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its 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 the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $5.74 earnings per share. Equities research analysts forecast that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a dividend of $1.70 per share. The ex-dividend date was Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.04%. 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.