KLA (NASDAQ:KLAC) Cut to Hold at StockNews.com

StockNews.com downgraded shares of KLA (NASDAQ:KLAC) from a buy rating to a hold rating in a research report report published on Wednesday.

Other analysts have also issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Barclays reduced their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Susquehanna lowered their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, TD Cowen decreased their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen 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 $815.55.

KLA Stock Up 2.4 %

KLAC opened at $647.03 on Wednesday. The firm has a market capitalization of $86.55 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. KLA has a one year low of $527.11 and a one year high of $896.32. The company has a fifty day moving average price of $699.34 and a 200-day moving average price of $757.61. 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 posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $5.74 earnings per share. Equities research analysts expect that KLA will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.05%. KLA’s dividend payout ratio is 31.05%.

Institutional Investors Weigh In On KLA

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in KLA by 317.6% during the third quarter. Tidal Investments LLC now owns 37,111 shares of the semiconductor company’s stock valued at $28,739,000 after buying an additional 28,224 shares during the period. Optimist Retirement Group LLC increased its stake in shares of KLA by 1.6% in the 3rd quarter. Optimist Retirement Group LLC now owns 3,017 shares of the semiconductor company’s stock worth $2,337,000 after acquiring an additional 47 shares in the last quarter. World Investment Advisors LLC purchased a new position in KLA during the 3rd quarter valued at about $310,000. Sanctuary Advisors LLC boosted its stake in KLA by 2.4% during the third quarter. Sanctuary Advisors LLC now owns 21,861 shares of the semiconductor company’s stock worth $16,929,000 after acquiring an additional 507 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in KLA by 43.7% in the third quarter. Anchor Investment Management LLC now owns 125 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 38 shares during the period. 86.65% of the stock is currently owned by institutional investors.

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.