First County Bank CT Sells 160 Shares of KLA Co. (NASDAQ:KLAC)

First County Bank CT lowered its position in shares of KLA Co. (NASDAQ:KLAC) by 9.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,504 shares of the semiconductor company’s stock after selling 160 shares during the period. First County Bank CT’s holdings in KLA were worth $1,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC increased its holdings in KLA by 83.1% in the first quarter. EntryPoint Capital LLC now owns 141 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 64 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of KLA by 49.3% in the first quarter. Canada Pension Plan Investment Board now owns 167,479 shares of the semiconductor company’s stock worth $116,996,000 after acquiring an additional 55,269 shares during the period. LRI Investments LLC bought a new stake in KLA in the first quarter valued at approximately $46,000. Magnetar Financial LLC acquired a new stake in KLA during the 1st quarter valued at approximately $1,114,000. Finally, BOKF NA raised its holdings in KLA by 85.1% during the 1st quarter. BOKF NA now owns 7,961 shares of the semiconductor company’s stock worth $5,659,000 after purchasing an additional 3,659 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Up 2.3 %

KLAC stock opened at $631.22 on Friday. The company’s 50 day moving average is $712.59 and its 200 day moving average is $760.85. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a market cap 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 1-year low of $527.11 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last issued its 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 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 was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.74 EPS. Sell-side analysts predict that KLA Co. will post 30.91 EPS 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 paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.08%. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio is 31.05%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KLAC. 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 report on Thursday, October 31st. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. TD Cowen reduced their price target 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. Evercore ISI upped their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group decreased their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.