Eagle Asset Management Inc. Reduces Stock Holdings in KLA Co. (NASDAQ:KLAC)

Eagle Asset Management Inc. lessened its holdings in shares of KLA Co. (NASDAQ:KLAC) by 23.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,234 shares of the semiconductor company’s stock after selling 3,189 shares during the period. Eagle Asset Management Inc.’s holdings in KLA were worth $7,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

KLA Price Performance

Shares of KLAC stock opened at $639.55 on Monday. The firm’s 50-day moving average is $710.36 and its two-hundred day moving average is $760.93. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market capitalization of $85.55 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.74 earnings per share. Analysts predict that KLA Co. will post 30.91 earnings per share for the current 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 given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. UBS Group lowered their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Wells Fargo & Company reduced their target price on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $815.55.

About KLA

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.