Versant Capital Management Inc Trims Stock Position in KLA Co. (NASDAQ:KLAC)

Versant Capital Management Inc trimmed its stake in KLA Co. (NASDAQ:KLAC) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 308 shares of the semiconductor company’s stock after selling 21 shares during the period. Versant Capital Management Inc’s holdings in KLA were worth $194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of KLA in the 3rd quarter valued at about $29,000. Groupama Asset Managment increased its position in KLA by 82.3% during the third quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,038 shares during the period. Capital Performance Advisors LLP purchased a new stake in KLA in the third quarter valued at approximately $38,000. FSA Wealth Management LLC acquired a new stake in shares of KLA in the third quarter valued at approximately $53,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of KLA during the third quarter worth approximately $56,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

NASDAQ KLAC opened at $657.01 on Friday. The business has a 50 day moving average price of $649.53 and a 200 day moving average price of $734.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market capitalization of $87.88 billion, a P/E ratio of 30.00, a PEG ratio of 1.39 and a beta of 1.27. KLA Co. has a 1-year low of $542.41 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (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 the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.74 EPS. Sell-side analysts expect that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.03%. KLA’s dividend payout ratio is currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. TD Cowen decreased their target price 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 lowered their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company reduced their price objective on KLA from $870.00 to $800.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $816.63.

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.