KLA Co. (NASDAQ:KLAC) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in KLA Co. (NASDAQ:KLAC) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,817 shares of the semiconductor company’s stock after selling 586 shares during the quarter. Pacer Advisors Inc.’s holdings in KLA were worth $18,444,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KLAC. Family Firm Inc. purchased a new position in shares of KLA during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA in the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA during the 2nd quarter worth about $44,000. LRI Investments LLC purchased a new position in KLA during the 1st quarter valued at about $46,000. Finally, Olistico Wealth LLC acquired a new position in KLA in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock opened at $639.55 on Friday. KLA Co. has a 1 year low of $527.11 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The firm has a market cap of $85.55 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.30 and a beta of 1.29. The stock’s 50-day moving average is $710.36 and its two-hundred day moving average is $760.30.

KLA (NASDAQ:KLAC) last released its quarterly 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 company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.74 earnings per share. Analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.06%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 31.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KLAC. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price objective 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, UBS Group lowered their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, KLA has an average rating of “Moderate Buy” and an average target price of $815.55.

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.