Short Interest in KLA Co. (NASDAQ:KLAC) Drops By 16.8%

by · The Cerbat Gem

KLA Co. (NASDAQ:KLAC – Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,830,000 shares, a decrease of 16.8% from the March 15th total of 3,400,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 2.3 days. Currently, 2.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KLAC shares. Jefferies Financial Group reiterated a “hold” rating and set a $725.00 target price (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Stifel Nicolaus lowered their price target on shares of KLA from $825.00 to $750.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Oppenheimer decreased their price objective on KLA from $850.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group boosted their target price on KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of KLA from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $814.11.

Read Our Latest Stock Analysis on KLA

KLA Stock Down 3.4 %

NASDAQ:KLAC traded down $21.49 during mid-day trading on Monday, reaching $612.95. The company’s stock had a trading volume of 227,885 shares, compared to its average volume of 1,055,197. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $81.45 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The stock has a fifty day moving average of $695.14 and a 200-day moving average of $689.74. KLA has a 1 year low of $551.33 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Equities research analysts forecast that KLA will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.11%. KLA’s dividend payout ratio is presently 28.60%.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Trading of KLA

A number of institutional investors have recently modified their holdings of the company. Diversify Advisory Services LLC boosted its position in shares of KLA by 22.7% in the 4th quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock worth $443,000 after purchasing an additional 120 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of KLA by 27.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company’s stock valued at $6,161,000 after purchasing an additional 2,112 shares during the last quarter. Milestone Asset Management LLC purchased a new stake in KLA during the 4th quarter worth approximately $1,563,000. AEGON ASSET MANAGEMENT UK Plc increased its stake in KLA by 15.2% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 60,834 shares of the semiconductor company’s stock valued at $38,326,000 after purchasing an additional 8,028 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in shares of KLA in the fourth quarter worth $1,190,000. 86.65% of the stock is currently owned by institutional investors.

About KLA

(Get 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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