Citigroup Inc. Sells 8,767 Shares of KLA Co. (NASDAQ:KLAC)

Citigroup Inc. lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 490,544 shares of the semiconductor company’s stock after selling 8,767 shares during the period. Citigroup Inc.’s holdings in KLA were worth $379,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KLAC. Capital Market Strategies LLC boosted its holdings in shares of KLA by 1.6% during the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC boosted its stake in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares during the last quarter. HBW Advisory Services LLC grew its holdings in KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares in the last quarter. TIAA Trust National Association increased its stake in KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC raised its holdings in shares of KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $631.22 on Friday. The firm has a 50 day moving average of $712.59 and a 200 day moving average of $760.85. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $84.43 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping 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 firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $5.74 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is presently 31.05%.

Wall Street Analysts Forecast Growth

KLAC has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. StockNews.com raised KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently 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.