Short Interest in KLA Co. (NASDAQ:KLAC) Rises By 21.6%

KLA Co. (NASDAQ:KLAC) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,810,000 shares, an increase of 21.6% from the October 31st total of 2,310,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 2.6 days.

KLA Stock Up 2.4 %

Shares of NASDAQ KLAC traded up $14.89 on Monday, hitting $647.03. The company had a trading volume of 925,673 shares, compared to its average volume of 971,703. 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 has a 12-month low of $527.11 and a 12-month high of $896.32. The business has a 50 day moving average of $699.34 and a two-hundred day moving average of $757.79. The firm has a market capitalization of $86.55 billion, a P/E ratio of 29.54, a PEG ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted 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. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned $5.74 earnings per share. As a group, equities research analysts forecast that KLA will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s payout ratio is presently 31.05%.

Hedge Funds Weigh In On KLA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in KLA by 317.6% in the third quarter. Tidal Investments LLC now owns 37,111 shares of the semiconductor company’s stock valued at $28,739,000 after acquiring an additional 28,224 shares during the period. Optimist Retirement Group LLC boosted its position in shares of KLA by 1.6% during the third quarter. Optimist Retirement Group LLC now owns 3,017 shares of the semiconductor company’s stock worth $2,337,000 after buying an additional 47 shares during the period. World Investment Advisors LLC acquired a new position in shares of KLA during the third quarter worth approximately $310,000. Sanctuary Advisors LLC boosted its position in shares of KLA by 2.4% during the third quarter. Sanctuary Advisors LLC now owns 21,861 shares of the semiconductor company’s stock worth $16,929,000 after buying an additional 507 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of KLA by 43.7% during the third quarter. Anchor Investment Management LLC now owns 125 shares of the semiconductor company’s stock worth $97,000 after buying an additional 38 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $815.55.

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.