Parallel Advisors LLC Sells 19 Shares of KLA Co. (NASDAQ:KLAC)

Parallel Advisors LLC trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,051 shares of the semiconductor company’s stock after selling 19 shares during the period. Parallel Advisors LLC’s holdings in KLA were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Cibc World Markets Corp lifted its stake in shares of KLA by 109.6% in the fourth quarter. Cibc World Markets Corp now owns 44,401 shares of the semiconductor company’s stock valued at $27,978,000 after buying an additional 23,218 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in shares of KLA by 1.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 3,508 shares of the semiconductor company’s stock valued at $2,210,000 after buying an additional 44 shares in the last quarter. Gallacher Capital Management LLC lifted its stake in shares of KLA by 3.9% in the fourth quarter. Gallacher Capital Management LLC now owns 912 shares of the semiconductor company’s stock valued at $575,000 after buying an additional 34 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of KLA by 37.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,103 shares of the semiconductor company’s stock valued at $7,626,000 after buying an additional 3,306 shares in the last quarter. Finally, Choate Investment Advisors lifted its stake in shares of KLA by 69.2% in the fourth quarter. Choate Investment Advisors now owns 1,051 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 430 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

NASDAQ KLAC opened at $710.00 on Wednesday. KLA Co. has a 12-month low of $609.40 and a 12-month high of $896.32. The company’s 50 day moving average is $727.78 and its 200-day moving average is $704.39. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm has a market cap of $94.35 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. Sell-side analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s payout ratio is currently 28.60%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KLAC shares. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. UBS Group raised their price target on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Cantor Fitzgerald raised their price target on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Susquehanna raised their price target on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price target on shares of KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $830.67.

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.