Alpha Cubed Investments LLC Sells 15 Shares of KLA Co. (NASDAQ:KLAC)

Alpha Cubed Investments LLC reduced its position in KLA Co. (NASDAQ:KLAC) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 781 shares of the semiconductor company’s stock after selling 15 shares during the period. Alpha Cubed Investments LLC’s holdings in KLA were worth $492,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its stake in shares of KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the period. Marcum Wealth LLC grew its holdings in KLA by 4.1% during the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 15 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of KLA by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after purchasing an additional 16 shares during the last quarter. Ascent Wealth Partners LLC raised its holdings in shares of KLA by 0.4% in the 3rd quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after purchasing an additional 16 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of KLA by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 16 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 1.3 %

Shares of KLAC stock opened at $767.24 on Wednesday. The business’s fifty day moving average price is $656.82 and its 200 day moving average price is $723.78. The firm has a market capitalization of $102.63 billion, a PE ratio of 35.03, a P/E/G ratio of 1.63 and a beta of 1.27. 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 Co. has a 1-year low of $581.70 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted $5.74 EPS. The business’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts forecast that KLA Co. will post 30.37 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 0.89%. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA’s payout ratio is presently 31.05%.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Barclays dropped their price objective on KLA from $750.00 to $700.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their target price on KLA from $850.00 to $759.00 and set a “buy” rating for the company in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $807.35.

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.