Retirement Systems of Alabama Decreases Stake in KLA Co. (NASDAQ:KLAC)

Retirement Systems of Alabama lowered its position in KLA Co. (NASDAQ:KLAC) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,706 shares of the semiconductor company’s stock after selling 534 shares during the quarter. Retirement Systems of Alabama’s holdings in KLA were worth $44,553,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KLAC. Paragon Capital Management Inc. raised its holdings in KLA by 12.7% during the fourth quarter. Paragon Capital Management Inc. now owns 1,041 shares of the semiconductor company’s stock worth $656,000 after purchasing an additional 117 shares in the last quarter. Ninety One UK Ltd raised its holdings in KLA by 4.9% during the fourth quarter. Ninety One UK Ltd now owns 62,305 shares of the semiconductor company’s stock worth $39,260,000 after purchasing an additional 2,906 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in KLA by 1.0% during the fourth quarter. Calamos Wealth Management LLC now owns 1,775 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 17 shares in the last quarter. Columbus Macro LLC raised its holdings in KLA by 479.9% during the fourth quarter. Columbus Macro LLC now owns 5,689 shares of the semiconductor company’s stock worth $3,585,000 after purchasing an additional 4,708 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in KLA by 6.4% during the fourth quarter. Childress Capital Advisors LLC now owns 479 shares of the semiconductor company’s stock worth $302,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of research analyst reports. TD Cowen cut their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald lifted their target price on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays lifted their target price on shares of KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on shares of KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $831.68.

KLA Price Performance

Shares of NASDAQ KLAC opened at $749.32 on Wednesday. KLA Co. has a one year low of $595.86 and a one year high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company’s fifty day moving average is $677.87 and its two-hundred day moving average is $716.00. The firm has a market capitalization of $100.23 billion, a P/E ratio of 31.51, a PEG ratio of 1.57 and a beta of 1.28.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Analysts forecast that KLA Co. will post 30.8 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were given a $1.70 dividend. The ex-dividend date 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 0.91%. KLA’s payout ratio is currently 28.60%.

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.