KLA Co. (NASDAQ:KLAC) Shares Sold by Connable Office Inc.

Connable Office Inc. cut its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,170 shares of the semiconductor company's stock after selling 793 shares during the quarter. Connable Office Inc.'s holdings in KLA were worth $4,004,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cedar Wealth Management LLC increased its stake in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. Family Firm Inc. acquired a new position in KLA during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP bought a new position in KLA in the third quarter worth approximately $38,000. 1620 Investment Advisors Inc. acquired a new stake in KLA in the second quarter valued at approximately $44,000. Finally, LRI Investments LLC bought a new stake in shares of KLA during the first quarter valued at approximately $45,000. Institutional investors own 86.65% of the company's stock.

KLA Stock Performance

Shares of KLA stock traded down $30.54 during midday trading on Friday, hitting $614.46. The company had a trading volume of 1,712,055 shares, compared to its average volume of 961,993. The company has a fifty day simple moving average of $722.79 and a 200 day simple moving average of $763.28. The stock has a market cap of $82.19 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.36 and a beta of 1.29. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.74 earnings per share. As a group, analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio (DPR) is 26.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Cowen reduced their price objective on shares of KLA from $760.00 to $725.00 and set a "hold" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on KLA from $800.00 to $950.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Citigroup lowered their price target on KLA from $960.00 to $900.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Susquehanna cut their price objective on shares of KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Finally, Oppenheimer upgraded shares of KLA from a "market perform" rating to an "outperform" rating and increased their target price for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $802.90.

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.