Rockefeller Capital Management L.P. Sells 3,151 Shares of KLA Co. (NASDAQ:KLAC)

Rockefeller Capital Management L.P. decreased its stake in KLA Co. (NASDAQ:KLAC) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,572 shares of the semiconductor company’s stock after selling 3,151 shares during the period. Rockefeller Capital Management L.P.’s holdings in KLA were worth $38,381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Swedbank AB raised its holdings in shares of KLA by 0.4% in 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 period. Community Financial Services Group LLC increased its position in KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after buying an additional 6,279 shares during the last quarter. Eastern Bank raised its stake in shares of KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares during the period. ING Groep NV lifted its position in shares of KLA by 52.4% during the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after buying an additional 27,436 shares during the last quarter. Finally, Generate Investment Management Ltd grew 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 worth $4,555,000 after acquiring an additional 1,651 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday. Susquehanna dropped their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. TD Cowen lowered their target price 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. Finally, Wells Fargo & Company cut their price target on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average price target of $815.55.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $647.03 on Friday. The company’s fifty day moving average price is $699.34 and its 200-day moving average price is $757.61. 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 has a market capitalization of $86.55 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.33 and a beta of 1.29. KLA Co. has a one year low of $527.11 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $5.74 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. On average, equities research analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a $1.70 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 1.05%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is currently 31.05%.

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.