Exchange Traded Concepts LLC Has $1.82 Million Stake in KLA Co. (NASDAQ:KLAC)

Exchange Traded Concepts LLC reduced its position in shares of KLA Co. (NASDAQ:KLAC) by 42.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,884 shares of the semiconductor company’s stock after selling 2,138 shares during the period. Exchange Traded Concepts LLC’s holdings in KLA were worth $1,817,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KLAC. Swedbank AB lifted its stake in KLA by 0.4% in the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after acquiring an additional 2,019 shares in the last quarter. Diversify Advisory Services LLC lifted its position in shares of KLA by 22.7% in the fourth quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock worth $443,000 after purchasing an additional 120 shares in the last quarter. Community Financial Services Group LLC boosted its holdings in shares of 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 period. Eastern Bank grew its position in KLA by 655.8% during the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after purchasing an additional 23,747 shares in the last quarter. Finally, ING Groep NV increased its stake in KLA by 52.4% in the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after buying an additional 27,436 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Susquehanna boosted their price target on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley dropped their target price on KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 5th. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report 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, Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $812.47.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $749.82 on Monday. KLA Co. has a 12 month low of $581.70 and a 12 month high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a market cap of $100.30 billion, a P/E ratio of 34.24, a P/E/G ratio of 1.66 and a beta of 1.27. The business’s 50 day moving average is $666.45 and its two-hundred day moving average is $721.89.

KLA (NASDAQ:KLAC) last released its 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. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.74 EPS. On average, equities analysts expect that KLA Co. will post 30.34 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 0.91%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA’s payout ratio is currently 31.05%.

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.