TD Private Client Wealth LLC Cuts Position in KLA Co. (NASDAQ:KLAC)

by · The Markets Daily

TD Private Client Wealth LLC reduced its holdings in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 47.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,480 shares of the semiconductor company’s stock after selling 3,201 shares during the period. TD Private Client Wealth LLC’s holdings in KLA were worth $2,695,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Swedbank AB boosted its position in KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after purchasing an additional 2,019 shares during the period. Community Financial Services Group LLC boosted its position in shares of KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after buying an additional 6,279 shares during the period. Eastern Bank boosted its position in shares of KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after buying an additional 23,747 shares during the period. ING Groep NV grew its stake in shares of KLA by 52.4% in the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after buying an additional 27,436 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in KLA by 14.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock worth $25,722,000 after acquiring an additional 4,112 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $648.84 on Thursday. The company has a market cap of $86.79 billion, a PE ratio of 29.63, a P/E/G ratio of 1.38 and a beta of 1.28. KLA Co. has a fifty-two week low of $542.41 and a fifty-two week high of $896.32. The firm has a 50-day simple moving average of $680.06 and a 200 day simple moving average of $751.66. 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 (NASDAQ:KLAC – Get Free Report) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate 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 return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.74 earnings per share. On average, sell-side analysts anticipate that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. This is a boost from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Barclays decreased 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. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. Finally, UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target of $812.30.

View Our Latest Stock Report on KLAC

KLA Profile

(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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