Peak Financial Advisors LLC Trims Stock Position in KLA Co. (NASDAQ:KLAC)

Peak Financial Advisors LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 58.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,620 shares of the semiconductor company's stock after selling 2,302 shares during the period. Peak Financial Advisors LLC's holdings in KLA were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company's stock worth $283,000 after buying an additional 13 shares during the period. Marcum Wealth LLC grew its position in KLA by 4.1% in the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company's stock valued at $297,000 after acquiring an additional 15 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of KLA by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company's stock worth $1,110,000 after purchasing an additional 16 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company's stock valued at $3,459,000 after purchasing an additional 16 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of KLA by 2.8% in the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company's stock worth $451,000 after purchasing an additional 16 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Up 2.2 %

Shares of KLAC traded up $15.33 during mid-day trading on Wednesday, hitting $716.59. 977,341 shares of the company traded hands, compared to its average volume of 1,134,737. The business has a 50 day moving average of $651.44 and a 200 day moving average of $726.56. The company has a market capitalization of $95.85 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. 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 1-year low of $552.85 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter last year, the company posted $5.74 earnings per share. The business's quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts anticipate that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 0.95%. This is a boost from KLA's previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA's dividend payout ratio (DPR) is presently 31.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KLAC. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Barclays dropped their price objective 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. Oppenheimer raised KLA from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a "neutral" rating and set a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Finally, Needham & Company LLC upgraded KLA from a "hold" rating to a "buy" rating and set a $750.00 price objective for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, KLA presently has a consensus rating of "Moderate Buy" and an average price target of $809.10.

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.