Intech Investment Management LLC Reduces Stake in KLA Co. (NASDAQ:KLAC)

Intech Investment Management LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,377 shares of the semiconductor company’s stock after selling 384 shares during the quarter. Intech Investment Management LLC’s holdings in KLA were worth $3,390,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in KLA in the 2nd quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in shares of KLA in the third quarter valued at approximately $38,000. 1620 Investment Advisors Inc. purchased a new position in shares of KLA during the 2nd quarter worth approximately $44,000. LRI Investments LLC acquired a new position in shares of KLA during the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC purchased a new stake in KLA in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Trading Up 1.0 %

NASDAQ KLAC opened at $639.55 on Friday. The firm has a market capitalization of $85.55 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a one year low of $527.11 and a one year high of $896.32. The company’s 50 day moving average price is $710.36 and its 200 day moving average price is $760.62.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business posted $5.74 EPS. The business’s quarterly revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts predict that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a $1.70 dividend. 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 1.06%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is 31.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KLAC shares. TD Cowen cut their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Citigroup reduced their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. UBS Group reduced their price objective on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $815.55.

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.