Connable Office Inc. Sells 793 Shares of KLA Co. (NASDAQ:KLAC)

Connable Office Inc. reduced its stake in shares of KLA Co. (NASDAQ:KLAC) by 13.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,170 shares of the semiconductor company’s stock after selling 793 shares during the period. Connable Office Inc.’s holdings in KLA were worth $4,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of KLA by 5.7% in the third quarter. CIBC Asset Management Inc now owns 41,871 shares of the semiconductor company’s stock worth $32,425,000 after purchasing an additional 2,244 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in KLA by 3.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,499 shares of the semiconductor company’s stock valued at $2,709,000 after purchasing an additional 130 shares in the last quarter. ING Groep NV lifted its holdings in shares of KLA by 52.4% in the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after buying an additional 27,436 shares during the period. Lifeworks Advisors LLC increased its stake in shares of KLA by 7.0% during the third quarter. Lifeworks Advisors LLC now owns 2,535 shares of the semiconductor company’s stock valued at $1,963,000 after buying an additional 166 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in KLA by 3.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,861 shares of the semiconductor company’s stock valued at $2,990,000 after purchasing an additional 141 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KLAC has been the topic of a number of analyst reports. UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Barclays decreased their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $802.90.

KLA Trading Up 0.1 %

Shares of KLA stock opened at $645.00 on Friday. The stock has a market cap of $86.28 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The firm has a fifty day moving average price of $724.45 and a 200 day moving average price of $764.10. KLA Co. has a 1 year low of $527.11 and a 1 year 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.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. 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 posted $5.74 EPS. The company’s revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. KLA’s payout ratio is presently 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.