Kentucky Retirement Systems Decreases Position in KLA Co. (NASDAQ:KLAC)

Kentucky Retirement Systems lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,365 shares of the semiconductor company’s stock after selling 781 shares during the period. Kentucky Retirement Systems’ holdings in KLA were worth $7,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KLAC. Swedbank AB acquired a new position in shares of KLA in the 1st quarter valued at $379,678,000. International Assets Investment Management LLC increased its stake in KLA by 76,452.4% during the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after buying an additional 301,987 shares in the last quarter. Van ECK Associates Corp raised its stake in KLA by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after buying an additional 235,597 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after purchasing an additional 192,849 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Down 4.7 %

KLA stock opened at $614.46 on Friday. The stock’s fifty day moving average is $721.02 and its two-hundred day moving average is $762.59. The stock has a market cap of $82.19 billion, a PE ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 1.29. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business earned $5.74 EPS. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, sell-side analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio (DPR) is currently 26.48%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KLAC. StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company reduced their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price target on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, TD Cowen reduced their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

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.