Beta Wealth Group Inc. Has $383,000 Position in KLA Co. (NASDAQ:KLAC)

Beta Wealth Group Inc. cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 7.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 494 shares of the semiconductor company’s stock after selling 40 shares during the period. Beta Wealth Group Inc.’s holdings in KLA were worth $383,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KLAC. Swedbank AB lifted its stake in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after acquiring an additional 2,019 shares during the last quarter. Community Financial Services Group LLC lifted its stake in shares of KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 6,279 shares during the last quarter. Eastern Bank boosted its holdings in KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after purchasing an additional 23,747 shares in the last quarter. Sei Investments Co. increased its position in KLA by 16.0% during the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after buying an additional 10,594 shares during the last quarter. Finally, Generate Investment Management Ltd raised its holdings in KLA by 39.0% during the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock valued at $4,555,000 after buying an additional 1,651 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KLAC. TD Cowen decreased their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Susquehanna dropped 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. Stifel Nicolaus boosted their target price on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company reduced their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Eight investment 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 currently has an average rating of “Moderate Buy” and an average price target of $802.90.

KLA Trading Up 0.2 %

KLAC stock opened at $687.41 on Friday. 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 stock has a market capitalization of $91.95 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 1.41 and a beta of 1.29. The business has a fifty day moving average price of $731.06 and a 200 day moving average price of $763.72. KLA Co. has a fifty-two week low of $505.50 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results 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. The business had revenue of $2.84 billion during 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 revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.74 earnings per share. Analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business 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 $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is 26.48%.

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.