SeaCrest Wealth Management LLC Sells 4,219 Shares of KLA Co. (NASDAQ:KLAC)

SeaCrest Wealth Management LLC lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 66.4% during the fourth quarter, HoldingsChannel reports. The fund owned 2,136 shares of the semiconductor company’s stock after selling 4,219 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in KLA were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Signet Financial Management LLC increased its position in KLA by 11.9% during the fourth quarter. Signet Financial Management LLC now owns 3,568 shares of the semiconductor company’s stock worth $2,248,000 after acquiring an additional 380 shares during the period. Miracle Mile Advisors LLC boosted its stake in KLA by 16.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 403 shares of the semiconductor company’s stock worth $254,000 after buying an additional 56 shares in the last quarter. Sunflower Bank N.A. acquired a new stake in KLA during the fourth quarter worth $229,000. Cooper Financial Group boosted its stake in KLA by 15.7% during the fourth quarter. Cooper Financial Group now owns 1,651 shares of the semiconductor company’s stock worth $1,040,000 after buying an additional 224 shares in the last quarter. Finally, Asset Allocation & Management Company LLC acquired a new stake in KLA during the fourth quarter worth $268,000. Institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $716.25 on Thursday. The stock has a market capitalization of $95.81 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.39 and a beta of 1.27. KLA Co. has a 1-year low of $552.85 and a 1-year high of $896.32. 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 business has a 50-day moving average price of $651.44 and a two-hundred day moving average price of $726.56.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.74 EPS. Equities analysts predict that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were issued a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, November 18th. KLA’s payout ratio is currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. 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 research note on Thursday, October 31st. Barclays decreased 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 note 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 on the stock in a research note on Thursday, October 31st. Finally, TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $809.10.

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.