Kovitz Investment Group Partners LLC Sells 112 Shares of KLA Co. (NASDAQ:KLAC)

Kovitz Investment Group Partners LLC lowered its stake in KLA Co. (NASDAQ:KLACFree Report) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,861 shares of the semiconductor company’s stock after selling 112 shares during the period. Kovitz Investment Group Partners LLC’s holdings in KLA were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KLAC. Resurgent Financial Advisors LLC bought a new position in shares of KLA during the fourth quarter valued at about $25,000. Northwest Capital Management Inc bought a new position in KLA during the 2nd quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in KLA in the 3rd quarter worth approximately $26,000. Cornerstone Planning Group LLC purchased a new position in shares of KLA during the second quarter valued at approximately $29,000. Finally, Quarry LP increased its stake in shares of KLA by 118.9% during the first quarter. Quarry LP now owns 81 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 44 shares during the period. Institutional investors own 85.49% of the company’s stock.

KLA Price Performance

KLAC opened at $649.80 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.25 and a current ratio of 1.91. The company’s 50-day simple moving average is $580.76 and its two-hundred day simple moving average is $523.81. KLA Co. has a 52-week low of $355.88 and a 52-week high of $658.78. The stock has a market capitalization of $87.87 billion, a P/E ratio of 33.00, a P/E/G ratio of 3.13 and a beta of 1.33.

KLA (NASDAQ:KLACGet Free Report) last posted its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share for the quarter, beating analysts’ consensus estimates of $5.91 by $0.25. KLA had a return on equity of 107.56% and a net margin of 27.98%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $7.38 earnings per share. KLA’s revenue was down 16.7% on a year-over-year basis. As a group, analysts predict that KLA Co. will post 22.88 EPS for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Monday, February 19th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.89%. KLA’s dividend payout ratio is currently 29.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of KLA in a research note on Wednesday, November 22nd. They set a “neutral” rating and a $550.00 target price on the stock. Susquehanna lowered KLA from a “positive” rating to a “neutral” rating and lifted their price target for the company from $640.00 to $675.00 in a research report on Monday, January 29th. New Street Research started coverage on KLA in a report on Monday, December 18th. They issued a “buy” rating and a $730.00 price objective for the company. Barclays lifted their price target on shares of KLA from $500.00 to $550.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Finally, Morgan Stanley cut their price objective on shares of KLA from $529.00 to $500.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $607.50.

Check Out Our Latest Research Report on KLA

About KLA

(Free Report)

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.

See Also

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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