KLA Co. (NASDAQ:KLAC) Position Lessened by Larson Financial Group LLC

Larson Financial Group LLC lowered its position in KLA Co. (NASDAQ:KLAC) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541 shares of the semiconductor company’s stock after selling 143 shares during the quarter. Larson Financial Group LLC’s holdings in KLA were worth $419,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KLAC. Sompo Asset Management Co. Ltd. grew its stake in shares of KLA by 7.2% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 1,630 shares of the semiconductor company’s stock valued at $1,262,000 after buying an additional 110 shares in the last quarter. Kingsview Wealth Management LLC grew its position in KLA by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 4,470 shares of the semiconductor company’s stock worth $3,461,000 after acquiring an additional 32 shares in the last quarter. Cerity Partners LLC increased its stake in shares of KLA by 10.7% during the 3rd quarter. Cerity Partners LLC now owns 87,153 shares of the semiconductor company’s stock worth $67,492,000 after purchasing an additional 8,409 shares during the last quarter. Nwam LLC bought a new position in shares of KLA during the 3rd quarter valued at $435,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of KLA in the 3rd quarter valued at $7,095,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Down 2.0 %

Shares of KLAC stock opened at $631.47 on Wednesday. The stock has a market cap of $84.47 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. 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 stock has a fifty day moving average price of $706.36 and a 200 day moving average price of $759.85. KLA Co. has a one year low of $527.11 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last issued its 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. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business earned $5.74 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. Analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is 31.05%.

Analyst Upgrades and Downgrades

KLAC has been the topic of several analyst reports. Barclays lowered their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. UBS Group lowered 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

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.