W.H. Cornerstone Investments Inc. Trims Stock Position in KLA Co. (NASDAQ:KLAC)

W.H. Cornerstone Investments Inc. cut its holdings in KLA Co. (NASDAQ:KLAC) by 15.4% during the 3rd quarter, Holdings Channel reports. The firm owned 369 shares of the semiconductor company’s stock after selling 67 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in KLA were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KLAC. Family Firm Inc. purchased a new position in KLA during the second quarter worth $30,000. Cedar Wealth Management LLC raised its stake in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in KLA in the 2nd quarter valued at about $44,000. LRI Investments LLC acquired a new stake in shares of KLA during the 1st quarter worth about $46,000. Finally, Olistico Wealth LLC purchased a new stake in shares of KLA during the second quarter worth about $53,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KLAC. UBS Group reduced their price objective on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company reduced their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Barclays lowered their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Trading Down 0.9 %

NASDAQ:KLAC opened at $663.37 on Tuesday. KLA Co. has a 12 month low of $495.10 and a 12 month high of $896.32. The business’s 50-day moving average is $741.44 and its two-hundred day moving average is $764.25. 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 firm has a market capitalization of $88.73 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29.

KLA (NASDAQ:KLAC) last announced 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 business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the business posted $5.74 EPS. Research analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

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.