Lazard Freres Gestion S.A.S. Sells 17,558 Shares of KLA Co. (NASDAQ:KLAC)

Lazard Freres Gestion S.A.S. cut its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 18.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,087 shares of the semiconductor company's stock after selling 17,558 shares during the period. KLA makes up about 1.3% of Lazard Freres Gestion S.A.S.'s holdings, making the stock its 27th biggest position. Lazard Freres Gestion S.A.S. owned 0.06% of KLA worth $61,245,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in KLA during the second quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in KLA during the third quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new position in KLA during the second quarter valued at $44,000. LRI Investments LLC purchased a new position in KLA in the first quarter valued at about $45,000. Finally, Olistico Wealth LLC acquired a new position in KLA in the 2nd quarter worth about $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

Shares of KLAC stock traded down $13.20 during mid-day trading on Tuesday, reaching $631.47. The stock had a trading volume of 923,167 shares, compared to its average volume of 972,027. The firm's 50 day simple moving average is $706.36 and its 200 day simple moving average is $759.85. 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 $527.11 and a one year high of $896.32. The firm has a market cap of $84.47 billion, a PE ratio of 28.83, a P/E/G ratio of 1.35 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from KLA's previous quarterly dividend of $1.45. KLA's dividend payout ratio (DPR) is currently 31.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of KLA in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. 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. Finally, Citigroup dropped their target price on KLA from $960.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and an average target price of $815.55.

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.