MAI Capital Management Sells 2,723 Shares of KLA Co. (NASDAQ:KLAC)

MAI Capital Management lessened its stake in KLA Co. (NASDAQ:KLAC) by 68.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,274 shares of the semiconductor company’s stock after selling 2,723 shares during the period. MAI Capital Management’s holdings in KLA were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of KLA during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP bought a new position in shares of KLA in the 3rd quarter worth about $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA during the 2nd quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in shares of KLA in the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC bought a new position in KLA during the 2nd quarter valued at $53,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research reports. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Price Performance

Shares of NASDAQ KLAC opened at $631.22 on Friday. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The stock has a market cap of $84.43 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.30 and a beta of 1.29. The firm’s 50-day simple moving average is $712.59 and its 200 day simple moving average is $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.

KLA (NASDAQ:KLAC) last issued its earnings results 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. The firm 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%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $5.74 earnings per share. Equities analysts expect that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $1.70 dividend. The ex-dividend date is Monday, November 18th. This is a boost 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%. KLA’s dividend payout ratio is currently 31.05%.

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.