Caprock Group LLC Sells 383 Shares of KLA Co. (NASDAQ:KLAC)

Caprock Group LLC cut its holdings in KLA Co. (NASDAQ:KLAC) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,360 shares of the semiconductor company’s stock after selling 383 shares during the period. Caprock Group LLC’s holdings in KLA were worth $4,151,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in KLA during the second quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of KLA in the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA during the 2nd quarter valued at approximately $44,000. LRI Investments LLC purchased a new stake in KLA during the 1st quarter valued at $45,000. Finally, Olistico Wealth LLC bought a new stake in KLA in the second quarter worth $53,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Trading Up 1.2 %

Shares of NASDAQ KLAC opened at $620.26 on Tuesday. KLA Co. has a 1-year low of $527.11 and a 1-year high of $896.32. The business has a fifty day moving average price of $721.02 and a 200 day moving average price of $763.78. The stock has a market capitalization of $82.97 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.29 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 released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating 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 business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $5.74 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently declared 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 is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, November 18th. KLA’s payout ratio is currently 26.48%.

Wall Street Analyst Weigh In

KLAC has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective 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. Citigroup cut their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. TD Cowen decreased their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. UBS Group cut their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Barclays decreased 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. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus 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.