Grove Bank & Trust Sells 14 Shares of KLA Co. (NASDAQ:KLAC)

Grove Bank & Trust cut its position in KLA Co. (NASDAQ:KLAC) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 601 shares of the semiconductor company’s stock after selling 14 shares during the period. Grove Bank & Trust’s holdings in KLA were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KLAC. CVA Family Office LLC raised its holdings in KLA by 3.7% in the 3rd 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 during the last quarter. Marcum Wealth LLC increased its position in KLA by 4.1% in the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 15 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of KLA by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 16 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock worth $3,459,000 after purchasing an additional 16 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in KLA by 2.8% in the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock valued at $451,000 after purchasing an additional 16 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

KLAC opened at $757.47 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $101.32 billion, a P/E ratio of 34.59, a PEG ratio of 1.47 and a beta of 1.27. The stock has a 50-day moving average price of $654.99 and a 200-day moving average price of $724.46. KLA Co. has a 12-month low of $577.00 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly 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 net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $5.74 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts predict that KLA Co. will post 30.37 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a dividend yield of 0.90%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

Analysts Set New Price Targets

KLAC has been the topic of several recent research reports. TD Cowen cut their target price on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC upgraded shares of KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective for the company in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays decreased their target price on KLA from $750.00 to $700.00 and set an “equal weight” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $806.60.

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.