Sigma Investment Counselors Inc. Cuts Position in KLA Co. (NASDAQ:KLAC)

Sigma Investment Counselors Inc. lessened its stake in KLA Co. (NASDAQ:KLAC) by 50.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,375 shares of the semiconductor company’s stock after selling 2,383 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in KLA were worth $1,497,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Swedbank AB increased 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 valued at $426,660,000 after purchasing an additional 2,019 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in shares of KLA by 22.7% in the 4th quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 120 shares in the last quarter. ING Groep NV increased its holdings in shares of KLA by 52.4% in the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after purchasing an additional 27,436 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of KLA by 14.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 33,215 shares of the semiconductor company’s stock valued at $25,722,000 after purchasing an additional 4,112 shares in the last quarter. Finally, Greenwich Wealth Management LLC increased its holdings in shares of KLA by 260.7% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,378 shares of the semiconductor company’s stock valued at $1,067,000 after purchasing an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Price Performance

KLA stock opened at $754.30 on Friday. The firm’s 50-day moving average is $708.55 and its two-hundred day moving average is $715.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA Co. has a 12-month low of $609.40 and a 12-month high of $896.32. The stock has a market capitalization of $100.24 billion, a P/E ratio of 31.72, a P/E/G ratio of 1.57 and a beta of 1.28.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (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%. Equities analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 0.90%. KLA’s dividend payout ratio is presently 28.60%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KLAC. The Goldman Sachs Group raised their target price on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a report on Friday, January 31st. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Susquehanna raised their target price on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. UBS Group raised their target price on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Finally, Barclays raised 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. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average price target of $831.68.

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.