KLA Co. (NASDAQ:KLAC) Shares Sold by First County Bank CT

First County Bank CT lessened its holdings in shares of KLA Co. (NASDAQ:KLAC) by 12.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,319 shares of the semiconductor company’s stock after selling 185 shares during the period. First County Bank CT’s holdings in KLA were worth $831,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. CVA Family Office LLC raised its holdings in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 13 shares in the last quarter. Marcum Wealth LLC lifted its position in KLA by 4.1% in the third quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in KLA by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 16 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock worth $3,459,000 after purchasing an additional 16 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of KLA by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of NASDAQ KLAC traded up $0.57 during midday trading on Tuesday, hitting $690.87. The company’s stock had a trading volume of 599,940 shares, compared to its average volume of 1,004,834. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The firm’s fifty day moving average price is $649.85 and its 200-day moving average price is $731.80. KLA Co. has a 1-year low of $548.84 and a 1-year high of $896.32. The firm has a market cap of $92.41 billion, a P/E ratio of 31.55, a P/E/G ratio of 1.39 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm earned $5.74 EPS. KLA’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts forecast that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 0.98%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is currently 31.05%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group decreased their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. 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. 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. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $816.63.

About KLA

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.