Heritage Wealth Management Inc. Trims Stock Holdings in KLA Co. (NASDAQ:KLAC)

Heritage Wealth Management Inc. trimmed its stake in KLA Co. (NASDAQ:KLAC) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,223 shares of the semiconductor company’s stock after selling 40 shares during the period. Heritage Wealth Management Inc.’s holdings in KLA were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its stake in shares of KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after purchasing an additional 2,019 shares during the last quarter. Community Financial Services Group LLC grew its stake in KLA by 538.5% during the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 6,279 shares during the last quarter. Eastern Bank increased its holdings in KLA by 655.8% in the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after buying an additional 23,747 shares during the period. Sei Investments Co. increased its stake in shares of KLA by 16.0% in the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after acquiring an additional 10,594 shares during the period. Finally, Generate Investment Management Ltd raised its stake in shares of KLA by 39.0% during the 3rd quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock valued at $4,555,000 after buying an additional 1,651 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KLAC has been the subject of several analyst reports. UBS Group decreased their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays dropped their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Argus raised their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned 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 price target of $802.90.

KLA Stock Performance

Shares of KLAC traded up $2.19 during mid-day trading on Friday, hitting $688.34. 145,210 shares of the company’s stock were exchanged, compared to its average volume of 947,042. The business’s 50 day moving average is $735.90 and its two-hundred day moving average is $763.89. KLA Co. has a fifty-two week low of $505.50 and a fifty-two week high of $896.32. The firm has a market capitalization of $92.07 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results 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. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.74 earnings per share. On average, equities analysts expect that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a $1.70 dividend. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 0.99%. KLA’s dividend payout ratio (DPR) is 26.48%.

About KLA

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.