Eagle Asset Management Inc. Has $7.93 Million Position in KLA Co. (NASDAQ:KLAC)

Eagle Asset Management Inc. cut its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 23.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,234 shares of the semiconductor company's stock after selling 3,189 shares during the period. Eagle Asset Management Inc.'s holdings in KLA were worth $7,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KLAC. LRI Investments LLC acquired a new position in shares of KLA in the 1st quarter valued at about $46,000. Caxton Associates LP grew its stake in KLA by 3.7% in the first quarter. Caxton Associates LP now owns 2,853 shares of the semiconductor company's stock valued at $1,993,000 after purchasing an additional 103 shares in the last quarter. Dynasty Wealth Management LLC acquired a new position in KLA in the first quarter worth approximately $1,555,000. California State Teachers Retirement System raised its holdings in shares of KLA by 0.6% during the 1st quarter. California State Teachers Retirement System now owns 223,090 shares of the semiconductor company's stock valued at $155,844,000 after purchasing an additional 1,358 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of KLA by 9.2% in the 1st quarter. Tidal Investments LLC now owns 6,824 shares of the semiconductor company's stock valued at $4,766,000 after purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Price Performance

KLAC stock traded up $5.12 during trading on Monday, hitting $644.67. The company had a trading volume of 1,837,365 shares, compared to its average volume of 967,916. The company has a fifty day moving average price of $710.36 and a two-hundred day moving average price of $760.93. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The company has a market cap of $86.23 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.35 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $5.74 EPS. Equities research analysts expect 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. Stockholders of record on Monday, November 18th will be issued a $1.70 dividend. This is an increase from KLA's previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Monday, November 18th. KLA's payout ratio is presently 31.05%.

Analyst Ratings Changes

Several research firms have recently issued reports on KLAC. Susquehanna lowered their price objective on KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Barclays dropped their target price on shares of KLA from $800.00 to $750.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research report on Thursday, October 3rd. Seven 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.com, KLA currently has an average rating of "Moderate Buy" and a consensus price target 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.