KLA Co. (NASDAQ:KLAC) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,361 shares of the semiconductor company’s stock after selling 1,206 shares during the quarter. Parnassus Investments LLC owned approximately 0.11% of KLA worth $117,990,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of KLA in the 3rd quarter worth approximately $6,018,000. Banque Cantonale Vaudoise increased its position in KLA by 95.2% in the third quarter. Banque Cantonale Vaudoise now owns 1,767 shares of the semiconductor company’s stock worth $1,368,000 after buying an additional 862 shares during the period. Fifth Third Wealth Advisors LLC increased its position in KLA by 14.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,509 shares of the semiconductor company’s stock worth $2,717,000 after buying an additional 433 shares during the period. Verity & Verity LLC boosted its holdings in shares of KLA by 11.4% during the third quarter. Verity & Verity LLC now owns 771 shares of the semiconductor company’s stock valued at $597,000 after acquiring an additional 79 shares during the period. Finally, OneAscent Financial Services LLC bought a new position in shares of KLA during the third quarter worth about $492,000. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on KLAC. Evercore ISI lifted their price objective on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Argus boosted their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup lowered their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Barclays reduced their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Stock Up 1.2 %

Shares of KLA stock opened at $620.26 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 12-month low of $527.11 and a 12-month high of $896.32. The firm has a market capitalization of $82.97 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The stock’s fifty day moving average is $719.23 and its 200-day moving average is $763.35.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.74 earnings per share. Equities analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.10%. KLA’s payout ratio is currently 26.48%.

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.