Pacer Advisors Inc. Lowers Stock Holdings in KLA Co. (NASDAQ:KLAC)

Pacer Advisors Inc. lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,817 shares of the semiconductor company’s stock after selling 586 shares during the quarter. Pacer Advisors Inc.’s holdings in KLA were worth $18,444,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Family Firm Inc. acquired a new position in KLA in the 2nd quarter valued at $30,000. Capital Performance Advisors LLP purchased a new position in KLA during the third quarter worth about $38,000. 1620 Investment Advisors Inc. acquired a new stake in KLA in the second quarter valued at about $44,000. LRI Investments LLC purchased a new stake in KLA in the 1st quarter valued at approximately $45,000. Finally, Olistico Wealth LLC acquired a new position in KLA during the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

KLA stock opened at $639.55 on Friday. The stock has a market capitalization of $85.55 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.30 and a beta of 1.29. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. 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 firm’s 50-day moving average is $710.36 and its two-hundred day moving average is $760.30.

KLA (NASDAQ:KLAC) last released 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. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company earned $5.74 EPS. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities analysts predict that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.06%. KLA’s dividend payout ratio is 31.05%.

Analyst Ratings Changes

Several analysts have recently commented on KLAC shares. TD Cowen reduced their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Barclays lowered their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and an average price target of $815.55.

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.