KLA Co. (NASDAQ:KLAC) Shares Sold by Cynosure Group LLC

Cynosure Group LLC trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 36.8% during the third quarter, Holdings Channel reports. The institutional investor owned 549 shares of the semiconductor company’s stock after selling 320 shares during the period. Cynosure Group LLC’s holdings in KLA were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Family Firm Inc. acquired a new position in KLA during the second quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in KLA in the third quarter valued at $38,000. 1620 Investment Advisors Inc. purchased a new position in shares of KLA in the 2nd quarter worth about $44,000. LRI Investments LLC purchased a new stake in shares of KLA during the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC acquired a new stake in KLA during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC opened at $632.14 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a 1 year low of $527.11 and a 1 year high of $896.32. The firm has a fifty day moving average of $704.38 and a 200-day moving average of $758.96. The company has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last released its quarterly 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 for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.74 EPS. As a group, equities analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio (DPR) is presently 31.05%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KLAC shares. Barclays decreased their price objective on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price target on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. UBS Group reduced their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. TD Cowen decreased their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

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.