UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in KLA Co. (NASDAQ:KLAC)

by · The Markets Daily

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in KLA Co. (NASDAQ:KLAC – Free Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891,247 shares of the semiconductor company’s stock after selling 39,587 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.67% of KLA worth $690,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Family Firm Inc. acquired a new position in shares of KLA in the second quarter worth about $30,000. Capital Performance Advisors LLP acquired a new position in shares of KLA in the third quarter worth about $38,000. 1620 Investment Advisors Inc. acquired a new position in shares of KLA in the second quarter worth about $44,000. LRI Investments LLC acquired a new position in shares of KLA in the first quarter worth about $45,000. Finally, Olistico Wealth LLC acquired a new position in shares of KLA in the second quarter worth about $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Barclays cut their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Citigroup cut their price objective on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $815.55.

Check Out Our Latest Report on KLA

KLA Stock Performance

Shares of KLAC stock opened at $632.14 on Thursday. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The firm has a market capitalization of $84.56 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The business has a 50 day simple moving average of $704.38 and a 200 day simple moving average of $758.96. 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company posted $5.74 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that KLA Co. will post 30.91 EPS for the current year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio is 31.05%.

KLA Profile

(Free Report)

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.

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