Dynamic Technology Lab Private Ltd Sells 265 Shares of KLA Co. (NASDAQ:KLAC)

Dynamic Technology Lab Private Ltd lessened its position in KLA Co. (NASDAQ:KLAC) by 19.4% during the third quarter, Holdings Channel.com reports. The fund owned 1,104 shares of the semiconductor company’s stock after selling 265 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in KLA were worth $855,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KLAC. Family Firm Inc. bought a new stake in shares of KLA in the second quarter worth about $30,000. Capital Performance Advisors LLP bought a new stake in shares of KLA in the 3rd quarter worth approximately $38,000. 1620 Investment Advisors Inc. purchased a new position in shares of KLA during the second quarter valued at approximately $44,000. LRI Investments LLC bought a new position in shares of KLA during the first quarter valued at approximately $45,000. Finally, Olistico Wealth LLC purchased a new stake in KLA in the second quarter worth $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KLAC. Susquehanna decreased their price objective on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company cut their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup decreased their target price on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $815.55.

KLA Stock Performance

Shares of KLAC opened at $632.14 on Thursday. The company has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.36 and a beta of 1.29. The business’s fifty day simple moving average is $704.38 and its two-hundred day simple moving average is $758.96. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. 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 released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the firm posted $5.74 earnings per share. KLA’s revenue was up 18.5% compared to the same quarter last year. Research analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

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

KLA 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.