Geneva Partners LLC Has $4.48 Million Stock Position in KLA Co. (NASDAQ:KLAC)

Geneva Partners LLC lessened its holdings in KLA Co. (NASDAQ:KLAC) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,790 shares of the semiconductor company’s stock after selling 1,664 shares during the quarter. KLA accounts for approximately 1.9% of Geneva Partners LLC’s investment portfolio, making the stock its 18th biggest position. Geneva Partners LLC’s holdings in KLA were worth $4,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KLAC. Vanguard Group Inc. grew its holdings in shares of KLA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company’s stock valued at $9,159,832,000 after purchasing an additional 76,226 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of KLA by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock worth $2,318,329,000 after buying an additional 28,172 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of KLA by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock worth $1,829,352,000 after buying an additional 71,289 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after acquiring an additional 286,015 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of KLA by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after acquiring an additional 21,412 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KLAC. TD Cowen lowered their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Citigroup decreased their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Stock Performance

Shares of KLAC stock opened at $663.37 on Tuesday. 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 52 week low of $495.10 and a 52 week high of $896.32. The firm has a 50 day moving average of $741.44 and a 200-day moving average of $764.25. The company has a market cap of $88.73 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion during 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%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.74 earnings per share. On average, equities analysts forecast that KLA Co. will post 30.91 earnings per share for the current year.

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.