Integrated Wealth Concepts LLC Sells 852 Shares of KLA Co. (NASDAQ:KLAC)

Integrated Wealth Concepts LLC reduced its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 45.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,007 shares of the semiconductor company's stock after selling 852 shares during the quarter. Integrated Wealth Concepts LLC's holdings in KLA were worth $780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KLAC. Family Firm Inc. bought a new position in KLA during the second quarter worth about $30,000. Capital Performance Advisors LLP bought a new position in KLA in the 3rd quarter worth about $38,000. 1620 Investment Advisors Inc. purchased a new position in KLA during the 2nd quarter valued at about $44,000. FSA Wealth Management LLC bought a new stake in shares of KLA during the third quarter valued at about $53,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of KLA in the second quarter worth about $59,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KLAC shares. Morgan Stanley lowered their price objective on KLA from $746.00 to $703.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 5th. Barclays reduced their target price on KLA from $800.00 to $750.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on KLA from $870.00 to $800.00 and set an "overweight" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $812.30.

KLA Trading Up 0.6 %

Shares of NASDAQ KLAC traded up $4.03 during midday trading on Tuesday, hitting $652.37. 1,093,342 shares of the company traded hands, compared to its average volume of 977,482. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a 12-month low of $542.41 and a 12-month high of $896.32. The firm has a market cap of $87.26 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.38 and a beta of 1.28. The stock has a 50-day moving average price of $684.86 and a 200 day moving average price of $753.35.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. 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 EPS. As a group, analysts expect that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a dividend of $1.70 per share. This is an increase from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.04%. KLA's payout ratio is presently 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.