Greenwich Wealth Management LLC Sells 870 Shares of KLA Co. (NASDAQ:KLAC)

Greenwich Wealth Management LLC lowered its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 508 shares of the semiconductor company's stock after selling 870 shares during the quarter. Greenwich Wealth Management LLC's holdings in KLA were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KLAC. Parnassus Investments LLC boosted its stake in shares of KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock valued at $462,085,000 after buying an additional 580,967 shares during the period. Proficio Capital Partners LLC lifted its stake in KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after purchasing an additional 342,189 shares during the last quarter. Two Sigma Advisers LP lifted its stake in KLA by 10,766.7% during the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company's stock worth $176,720,000 after purchasing an additional 226,100 shares during the last quarter. Raymond James Financial Inc. bought a new stake in KLA during the fourth quarter worth $142,221,000. Finally, Assenagon Asset Management S.A. lifted its stake in KLA by 84.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 441,053 shares of the semiconductor company's stock worth $277,916,000 after purchasing an additional 201,649 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KLAC shares. Needham & Company LLC upped their target price on KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their target price on KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Wells Fargo & Company upped their target price on KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Susquehanna upped their price target on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, UBS Group upped their price target on shares of KLA from $665.00 to $780.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, KLA has an average rating of "Moderate Buy" and a consensus target price of $830.67.

KLA Trading Down 0.4 %

KLA stock traded down $3.15 during trading hours on Thursday, reaching $716.46. 628,917 shares of the company's stock were exchanged, compared to its average volume of 946,971. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm's 50 day simple moving average is $728.45 and its 200 day simple moving average is $704.50. KLA Co. has a twelve month low of $609.40 and a twelve month high of $896.32. The firm has a market capitalization of $95.21 billion, a PE ratio of 30.13, a PEG ratio of 1.57 and a beta of 1.30.

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

KLA Dividend Announcement

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

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.