Penserra Capital Management LLC Cuts Stake in KLA Co. (NASDAQ:KLAC)

Penserra Capital Management LLC cut its holdings in KLA Co. (NASDAQ:KLAC) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,696 shares of the semiconductor company’s stock after selling 633 shares during the period. Penserra Capital Management LLC’s holdings in KLA were worth $4,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Family Firm Inc. bought a new position in shares of KLA during the second quarter worth $30,000. Capital Performance Advisors LLP purchased a new position in shares of KLA during the third quarter valued at about $38,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the second quarter worth about $44,000. LRI Investments LLC purchased a new stake in shares of KLA in the first quarter worth about $45,000. Finally, Olistico Wealth LLC bought a new position in KLA during the second quarter valued at approximately $53,000. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KLAC has been the topic of a number of research reports. Susquehanna reduced their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Citigroup reduced their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Wells Fargo & Company reduced 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Seven equities 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, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $815.55.

KLA Trading Up 1.0 %

Shares of NASDAQ KLAC opened at $639.55 on Monday. KLA Co. has a twelve month low of $527.11 and a twelve month high of $896.32. The firm has a market cap of $85.55 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. The business has a fifty day simple moving average of $710.36 and a two-hundred day simple moving average of $760.93. 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) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.74 earnings per share. Analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.06%. KLA’s payout ratio is 31.05%.

KLA Company 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.