Jackson Square Capital LLC Sells 560 Shares of KLA Co. (NASDAQ:KLAC)

Jackson Square Capital LLC decreased its position in shares of KLA Co. (NASDAQ:KLAC) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,483 shares of the semiconductor company’s stock after selling 560 shares during the period. KLA makes up about 1.6% of Jackson Square Capital LLC’s investment portfolio, making the stock its 16th largest position. Jackson Square Capital LLC’s holdings in KLA were worth $6,569,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cedar Wealth Management LLC increased its position in KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 17 shares during the last quarter. Family Firm Inc. purchased a new position in KLA in the 2nd quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new position in KLA in the 2nd quarter worth about $44,000. LRI Investments LLC purchased a new position in KLA in the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC purchased a new position in KLA in the 2nd quarter worth about $53,000. Institutional investors own 86.65% of the company’s stock.

KLA Stock Down 0.1 %

KLAC stock opened at $669.66 on Thursday. The firm has a 50 day moving average of $735.90 and a 200 day moving average of $763.89. The stock has a market capitalization of $89.57 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.40 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 Co. has a 52 week low of $498.57 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS 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 analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the business earned $5.74 EPS. Sell-side analysts forecast that KLA Co. will post 30.91 earnings per share for the current year.

Analysts Set New Price Targets

KLAC has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group raised their price target on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Argus increased their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

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.