KLA Co. (NASDAQ:KLAC) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC reduced its holdings in KLA Co. (NASDAQ:KLAC) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,350 shares of the semiconductor company’s stock after selling 288 shares during the quarter. KLA makes up 1.1% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 14th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in KLA were worth $12,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KLAC. Cedar Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 17 shares in the last quarter. Family Firm Inc. acquired a new stake in KLA in the second quarter worth approximately $30,000. Capital Performance Advisors LLP bought a new position in KLA during the 3rd quarter valued at $38,000. 1620 Investment Advisors Inc. acquired a new position in shares of KLA during the 2nd quarter valued at $44,000. Finally, LRI Investments LLC bought a new stake in shares of KLA in the 1st quarter worth $45,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

NASDAQ KLAC opened at $645.00 on Friday. KLA Co. has a fifty-two week low of $527.11 and a fifty-two week high of $896.32. The stock’s 50-day moving average is $724.45 and its two-hundred day moving average is $764.10. The firm has a market cap of $86.28 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. 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 issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion for 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 firm’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $5.74 EPS. On average, analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed 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. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is currently 26.48%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KLAC shares. Argus lifted their target price on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI lifted their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. The Goldman Sachs Group raised their target price on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company cut their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target 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.