Franklin Resources Inc. Lowers Stock Holdings in KLA Co. (NASDAQ:KLAC)

Franklin Resources Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 911,366 shares of the semiconductor company's stock after selling 56,376 shares during the period. Franklin Resources Inc. owned 0.68% of KLA worth $756,115,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KLAC. Swedbank AB increased its holdings in shares of KLA by 0.4% in the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company's stock worth $426,660,000 after buying an additional 2,019 shares during the last quarter. Community Financial Services Group LLC increased its stake in KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company's stock valued at $5,765,000 after acquiring an additional 6,279 shares during the last quarter. Eastern Bank increased its stake in KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company's stock valued at $21,194,000 after acquiring an additional 23,747 shares during the last quarter. ING Groep NV raised its position in KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company's stock valued at $61,769,000 after purchasing an additional 27,436 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in KLA by 14.1% during the third quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company's stock worth $25,722,000 after purchasing an additional 4,112 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

KLAC has been the topic of a number of research reports. Morgan Stanley decreased their price objective on KLA from $746.00 to $703.00 and set an "equal weight" rating on the stock in a report on Thursday, December 5th. Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of KLA in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $812.30.

KLA Trading Up 1.1 %

Shares of NASDAQ:KLAC traded up $7.16 on Friday, hitting $653.76. The company had a trading volume of 1,463,409 shares, compared to its average volume of 978,387. KLA Co. has a 1 year low of $542.41 and a 1 year 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 firm's 50-day simple moving average is $674.82 and its two-hundred day simple moving average is $750.06. The firm has a market capitalization of $87.45 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.38 and a beta of 1.27.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same period in the previous year, the firm posted $5.74 EPS. The business's revenue was up 18.5% on a year-over-year basis. Equities analysts anticipate that KLA Co. will post 30.61 earnings per share for the current fiscal 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 $1.70 dividend. This is an increase from KLA's previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.04%. KLA's dividend payout ratio is 31.05%.

KLA 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.