Victory Capital Management Inc. Sells 3,061 Shares of KLA Co. (NASDAQ:KLAC)

Victory Capital Management Inc. lowered its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,087 shares of the semiconductor company's stock after selling 3,061 shares during the period. Victory Capital Management Inc. owned about 0.11% of KLA worth $111,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in KLA in the second quarter worth $30,000. Cedar Wealth Management LLC increased its holdings in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 17 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in KLA in the 3rd quarter valued at about $38,000. 1620 Investment Advisors Inc. purchased a new stake in KLA during the second quarter valued at about $44,000. Finally, LRI Investments LLC bought a new position in KLA during the first quarter worth about $46,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Down 3.0 %

KLAC stock traded down $20.23 during trading on Wednesday, hitting $644.55. 1,369,392 shares of the company traded hands, compared to its average volume of 957,639. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company has a 50-day moving average of $726.46 and a 200-day moving average of $764.95. The firm has a market capitalization of $86.22 billion, a PE ratio of 29.43, a P/E/G ratio of 1.40 and a beta of 1.29. KLA Co. has a 1 year low of $527.11 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts' consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.74 EPS. Analysts predict that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This is a positive change from KLA's previous quarterly dividend of $1.45. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. KLA's dividend payout ratio is presently 26.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KLAC shares. Stifel Nicolaus lifted their price objective on shares of KLA from $760.00 to $875.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Wells Fargo & Company decreased their price objective on KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Evercore ISI raised their target price on KLA from $800.00 to $900.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Citigroup decreased their price target on KLA from $960.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Finally, Argus upped their target price on shares of KLA from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.