Covestor Ltd Has $59,000 Holdings in KLA Co. (NASDAQ:KLAC)

Covestor Ltd lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 84.4% in the third quarter, Holdings Channel.com reports. The firm owned 76 shares of the semiconductor company’s stock after selling 410 shares during the period. Covestor Ltd’s holdings in KLA were worth $59,000 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 stock. Vanguard Group Inc. boosted its position in shares of KLA by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company’s stock valued at $9,159,832,000 after buying an additional 76,226 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in KLA by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,766 shares of the semiconductor company’s stock valued at $2,318,329,000 after acquiring an additional 28,172 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in KLA by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock worth $1,829,352,000 after acquiring an additional 71,289 shares during the last quarter. Van ECK Associates Corp grew its position in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after purchasing an additional 286,015 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of KLA by 1.9% in the second quarter. Legal & General Group Plc now owns 1,163,958 shares of the semiconductor company’s stock valued at $959,695,000 after acquiring an additional 21,412 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Trading Up 0.1 %

NASDAQ KLAC opened at $645.00 on Friday. The firm has a market cap of $86.28 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The stock has a 50-day moving average of $724.45 and a 200-day moving average of $764.10. 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 (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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm posted $5.74 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a $1.70 dividend. This is a boost from KLA’s previous quarterly dividend of $1.45. 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 1.05%. KLA’s payout ratio is presently 26.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KLAC. JPMorgan Chase & Co. lifted their target price on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Argus raised their target price on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

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.