Jensen Investment Management Inc. Sells 29,780 Shares of KLA Co. (NASDAQ:KLAC)

Jensen Investment Management Inc. reduced its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,255 shares of the semiconductor company's stock after selling 29,780 shares during the period. KLA comprises about 3.5% of Jensen Investment Management Inc.'s holdings, making the stock its 13th largest holding. Jensen Investment Management Inc. owned approximately 0.40% of KLA worth $419,153,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB increased its position in 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 purchasing an additional 2,019 shares during the last quarter. Community Financial Services Group LLC increased its position in KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company's stock worth $5,765,000 after purchasing an additional 6,279 shares during the last quarter. Eastern Bank increased its position in KLA by 655.8% in the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company's stock worth $21,194,000 after purchasing an additional 23,747 shares during the last quarter. Sei Investments Co. increased its position in KLA by 16.0% in the 1st quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company's stock worth $53,756,000 after purchasing an additional 10,594 shares during the last quarter. Finally, Generate Investment Management Ltd increased its position in KLA by 39.0% in the 3rd quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company's stock worth $4,555,000 after purchasing an additional 1,651 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLAC stock traded up $1.26 during mid-day trading on Friday, reaching $687.41. The stock had a trading volume of 1,278,083 shares, compared to its average volume of 1,253,782. The firm's 50 day simple moving average is $731.06 and its 200 day simple moving average is $764.53. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. KLA Co. has a one year low of $505.50 and a one year high of $896.32. The firm has a market cap of $91.95 billion, a PE ratio of 31.39, a P/E/G ratio of 1.45 and a beta of 1.29.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company earned $5.74 EPS. The company's quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts forecast that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio (DPR) is 26.48%.

Analyst Upgrades and Downgrades

KLAC has been the topic of several research reports. UBS Group dropped their target price on KLA from $900.00 to $765.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Citigroup lowered their price objective on KLA from $960.00 to $900.00 and set a "buy" rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reissued a "neutral" rating and set a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Stifel Nicolaus increased their price objective on KLA from $760.00 to $875.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Finally, TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a "hold" rating on the stock in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, KLA currently has an average rating of "Moderate Buy" and an average price target of $802.90.

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.