KLA Co. (NASDAQ:KLAC) Shares Sold by Intellectus Partners LLC

by · The Markets Daily

Intellectus Partners LLC lowered its stake in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 90.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 442 shares of the semiconductor company’s stock after selling 3,999 shares during the quarter. Intellectus Partners LLC’s holdings in KLA were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in KLAC. Avantax Advisory Services Inc. grew its stake in KLA by 2.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,424 shares of the semiconductor company’s stock worth $995,000 after purchasing an additional 31 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in KLA by 5.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 994 shares of the semiconductor company’s stock worth $694,000 after buying an additional 51 shares during the last quarter. Alera Investment Advisors LLC acquired a new position in shares of KLA in the 1st quarter worth approximately $224,000. Cercano Management LLC bought a new stake in shares of KLA in the 1st quarter valued at approximately $27,813,000. Finally, Jacobi Capital Management LLC raised its position in shares of KLA by 2.1% during the 1st quarter. Jacobi Capital Management LLC now owns 2,388 shares of the semiconductor company’s stock valued at $1,669,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KLAC. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Barclays lowered their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Susquehanna lowered their target price on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

Check Out Our Latest Report on KLA

KLA Stock Performance

Shares of NASDAQ KLAC opened at $614.46 on Friday. KLA Co. has a 1 year low of $527.11 and a 1 year high of $896.32. The firm has a market cap of $82.19 billion, a P/E ratio of 28.06, a PEG ratio of 1.36 and a beta of 1.29. The stock has a fifty day moving average price of $722.79 and a two-hundred day moving average price of $763.28. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13.

KLA (NASDAQ:KLAC – Get Free Report) last announced 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 return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the business posted $5.74 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Research analysts forecast that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is presently 26.48%.

About KLA

(Free Report)

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.

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