Frank Rimerman Advisors LLC Reduces Stock Holdings in KLA Co. (NASDAQ:KLAC)

Frank Rimerman Advisors LLC lessened its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,905 shares of the semiconductor company's stock after selling 450 shares during the quarter. Frank Rimerman Advisors LLC's holdings in KLA were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KLAC. Hutchens & Kramer Investment Management Group LLC raised its stake in shares of KLA by 3.3% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company's stock valued at $259,000 after acquiring an additional 13 shares during the last quarter. Richardson Financial Services Inc. raised its stake in KLA by 5.9% during the fourth quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company's stock worth $160,000 after buying an additional 14 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in KLA by 6.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company's stock valued at $155,000 after buying an additional 15 shares during the period. Catalyst Financial Partners LLC boosted its position in KLA by 2.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock valued at $476,000 after acquiring an additional 15 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in KLA by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company's stock worth $451,000 after acquiring an additional 16 shares during the period. 86.65% of the stock is owned by institutional investors.

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KLA Stock Down 0.4 %

KLAC traded down $3.15 during mid-day trading on Thursday, reaching $716.46. 628,997 shares of the stock were exchanged, compared to its average volume of 1,113,819. The company has a 50 day moving average price of $728.45 and a two-hundred day moving average price of $704.50. The stock has a market capitalization of $95.21 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a 1 year low of $609.40 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, research analysts anticipate that KLA Co. will post 31.59 EPS for the current year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.95%. KLA's dividend payout ratio is currently 28.60%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of KLA from $703.00 to $748.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Cantor Fitzgerald increased their target price on shares of KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Needham & Company LLC lifted their price target on shares of KLA from $800.00 to $830.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $830.67.

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.