SpiderRock Advisors LLC Reduces Stock Position in KLA Co. (NASDAQ:KLAC)

SpiderRock Advisors LLC decreased its position in KLA Co. (NASDAQ:KLAC - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,713 shares of the semiconductor company's stock after selling 960 shares during the period. SpiderRock Advisors LLC's holdings in KLA were worth $10,620,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of KLAC. Cedar Wealth Management LLC lifted its stake in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of KLA during the second quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in shares of KLA during the third quarter worth $38,000. 1620 Investment Advisors Inc. purchased a new stake in shares of KLA during the second quarter worth $44,000. Finally, LRI Investments LLC purchased a new stake in shares of KLA during the first quarter worth $45,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Trading Up 0.2 %

Shares of NASDAQ:KLAC traded up $1.26 on Friday, reaching $687.41. 1,278,083 shares of the company traded hands, compared to its average volume of 1,220,755. The business's 50-day simple moving average is $731.06 and its 200 day simple moving average is $763.72. KLA Co. has a 52 week low of $505.50 and a 52 week high of $896.32. The stock has a market capitalization of $91.95 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29. 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 (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same period last year, the firm earned $5.74 earnings per share. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities analysts anticipate that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

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

Wall Street Analyst Weigh In

KLAC has been the topic of several recent research reports. Needham & Company LLC restated a "hold" rating on shares of KLA in a research report on Thursday, October 31st. The Goldman Sachs Group increased their target price on KLA from $735.00 to $838.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of KLA from $800.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Barclays decreased their price target on shares of KLA from $800.00 to $750.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and an average target price of $802.90.

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.