KLA Co. (NASDAQ:KLAC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,240 shares of the semiconductor company's stock after selling 4,128 shares during the period. Retirement Systems of Alabama owned about 0.05% of KLA worth $55,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KLAC. Family Firm Inc. purchased a new stake in KLA during the 2nd quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in KLA in the third quarter valued at $29,000. Capital Performance Advisors LLP acquired a new position in shares of KLA in the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA in the 2nd quarter worth about $44,000. Finally, FSA Wealth Management LLC bought a new position in KLA in the 3rd quarter worth approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

KLAC traded up $7.16 on Friday, hitting $653.76. 1,463,409 shares of the company's stock traded hands, compared to its average volume of 978,387. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. KLA Co. has a one year low of $542.41 and a one year high of $896.32. The company's 50 day simple moving average is $674.82 and its 200-day simple moving average is $750.06. The firm has a market cap of $87.45 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.38 and a beta of 1.27.

KLA (NASDAQ:KLAC - Get Free Report) last released 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. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same period in the previous year, the company earned $5.74 EPS. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, research analysts anticipate that KLA Co. will post 30.61 EPS for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.04%. This is a positive change from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA's payout ratio is 31.05%.

Analysts Set New Price Targets

KLAC has been the topic of several recent analyst reports. TD Cowen dropped their price target on KLA from $760.00 to $725.00 and set a "hold" rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating on shares of KLA in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on KLA from $890.00 to $750.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Morgan Stanley decreased their price target on shares of KLA from $746.00 to $703.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 5th. Finally, Susquehanna dropped their target price on KLA from $680.00 to $675.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $812.30.

About KLA

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.