Freedom Investment Management Inc. Sells 796 Shares of KLA Co. (NASDAQ:KLAC)

Freedom Investment Management Inc. decreased its position in KLA Co. (NASDAQ:KLAC) by 23.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,595 shares of the semiconductor company’s stock after selling 796 shares during the quarter. Freedom Investment Management Inc.’s holdings in KLA were worth $2,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Market Strategies LLC grew its position in shares of KLA by 1.6% during the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after buying an additional 13 shares during the period. CVA Family Office LLC raised its position in shares of KLA by 3.7% during the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 13 shares during the last quarter. HBW Advisory Services LLC raised its position in shares of KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 14 shares during the last quarter. TIAA Trust National Association boosted its position in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC boosted its position in shares of KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after purchasing an additional 15 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Barclays cut their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Susquehanna decreased their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and a consensus price target of $815.55.

KLA Trading Down 2.0 %

Shares of KLA stock opened at $631.47 on Wednesday. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average is $706.36 and its 200-day moving average is $759.85. The stock has a market cap of $84.47 billion, a P/E ratio of 28.83, a P/E/G ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $5.74 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal 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 $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is 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.