KLA Co. (NASDAQ:KLAC) Shares Sold by Cypress Capital Group

Cypress Capital Group cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,441 shares of the semiconductor company’s stock after selling 42 shares during the period. Cypress Capital Group’s holdings in KLA were worth $1,116,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Capital Market Strategies LLC grew its stake in shares of KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after buying an additional 13 shares in the last quarter. CVA Family Office LLC raised its position in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 13 shares during the period. HBW Advisory Services LLC lifted its stake in shares of KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after buying an additional 14 shares during the last quarter. TIAA Trust National Association boosted its holdings in shares of KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after buying an additional 14 shares during the period. Finally, AA Financial Advisors LLC grew its stake in KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 15 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. UBS Group dropped their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, TD Cowen lowered their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $802.90.

KLA Price Performance

Shares of KLAC opened at $631.22 on Friday. The business has a 50-day simple moving average of $712.59 and a two-hundred day simple moving average of $760.85. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The stock has a market cap of $84.43 billion, a PE ratio of 28.82, a PEG ratio of 1.30 and a beta of 1.29. 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 issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $5.74 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 31.05%.

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.