Canandaigua National Bank & Trust Co. Trims Position in KLA Co. (NASDAQ:KLAC)

Canandaigua National Bank & Trust Co. reduced its holdings in KLA Co. (NASDAQ:KLAC) by 27.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 866 shares of the semiconductor company’s stock after selling 320 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in KLA were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fortem Financial Group LLC boosted its position in shares of KLA by 2.1% in the fourth quarter. Fortem Financial Group LLC now owns 5,839 shares of the semiconductor company’s stock worth $3,679,000 after acquiring an additional 119 shares during the last quarter. Insight Wealth Strategies LLC raised its position in shares of KLA by 5.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 5,745 shares of the semiconductor company’s stock worth $3,620,000 after buying an additional 297 shares during the period. Pensionfund Sabic boosted its holdings in KLA by 36.4% in the fourth quarter. Pensionfund Sabic now owns 3,000 shares of the semiconductor company’s stock valued at $1,890,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC increased its stake in KLA by 3.5% during the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the semiconductor company’s stock worth $1,108,000 after acquiring an additional 60 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of KLA by 5.4% in the 3rd quarter. Principal Financial Group Inc. now owns 172,389 shares of the semiconductor company’s stock valued at $133,500,000 after purchasing an additional 8,830 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Barclays decreased their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Morgan Stanley decreased their price objective on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $816.63.

KLA Stock Up 5.1 %

Shares of KLA stock opened at $690.30 on Tuesday. The stock has a market capitalization of $92.33 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.39 and a beta of 1.27. The business’s 50 day simple moving average is $649.53 and its 200-day simple moving average is $732.79. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a twelve month low of $548.84 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate 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%. KLA’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.74 EPS. Equities research analysts forecast that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a $1.70 dividend. 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 dividend yield of 0.99%. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio is currently 31.05%.

KLA Company 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.