KLA Co. (NASDAQ:KLAC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in KLA Co. (NASDAQ:KLAC) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 486,206 shares of the semiconductor company’s stock after selling 18,376 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in KLA were worth $376,529,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Swedbank AB lifted its holdings in KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after buying an additional 2,019 shares during the last quarter. Community Financial Services Group LLC lifted its stake in KLA by 538.5% during the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after purchasing an additional 6,279 shares during the last quarter. Eastern Bank boosted its holdings in KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after purchasing an additional 23,747 shares during the period. ING Groep NV increased its stake in KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after purchasing an additional 27,436 shares during the last quarter. Finally, Generate Investment Management Ltd raised its holdings in shares of KLA by 39.0% during the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after purchasing an additional 1,651 shares during the period. Institutional investors own 86.65% of the company’s stock.

KLA Stock Up 0.8 %

NASDAQ KLAC opened at $644.67 on Tuesday. The company has a market capitalization of $86.23 billion, a P/E ratio of 29.44, a PEG ratio of 1.35 and a beta of 1.29. KLA Co. has a 12 month low of $527.11 and a 12 month 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. The company’s 50 day simple moving average is $708.52 and its 200 day simple moving average is $760.47.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The company 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 quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 EPS. Equities research analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

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

Wall Street Analysts Forecast Growth

KLAC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays lowered their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Citigroup lowered their price objective on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.