Everence Capital Management Inc. Has $1.91 Million Stock Position in KLA Co. (NASDAQ:KLAC)

Everence Capital Management Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC) by 14.9% during the fourth quarter, HoldingsChannel reports. The firm owned 3,030 shares of the semiconductor company’s stock after selling 530 shares during the quarter. Everence Capital Management Inc.’s holdings in KLA were worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CVA Family Office LLC boosted its stake in KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares in the last quarter. Greystone Financial Group LLC grew its holdings in shares of KLA by 1.3% during the 2nd quarter. Greystone Financial Group LLC now owns 1,188 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 15 shares during the last quarter. Marcum Wealth LLC increased its position in KLA by 4.1% during the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in KLA by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after purchasing an additional 16 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in KLA by 0.4% in the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after buying an additional 16 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research note on Thursday, December 5th. Citigroup reduced their price target on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. UBS Group dropped their price objective on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Barclays reduced their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen dropped their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $816.63.

KLA Stock Up 3.2 %

KLA stock opened at $657.01 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $87.88 billion, a PE ratio of 30.00, a PEG ratio of 1.39 and a beta of 1.27. The firm’s fifty day moving average is $649.53 and its 200 day moving average is $734.60. KLA Co. has a 12-month low of $542.41 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $5.74 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from KLA’s previous quarterly dividend of $1.45. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio is presently 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.