Rakuten Securities Inc. Sells 25 Shares of KLA Co. (NASDAQ:KLAC)

Rakuten Securities Inc. reduced its holdings in shares of KLA Co. (NASDAQ:KLAC) by 27.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66 shares of the semiconductor company’s stock after selling 25 shares during the period. Rakuten Securities Inc.’s holdings in KLA were worth $51,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KLAC. Capital Market Strategies LLC raised its position in KLA by 1.6% in the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the period. CVA Family Office LLC lifted its stake in shares of 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 acquiring an additional 13 shares during the last quarter. HBW Advisory Services LLC boosted its holdings in KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 14 shares during the period. TIAA Trust National Association grew its position in KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC increased its stake in KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after purchasing an additional 15 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KLAC has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Barclays reduced their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $802.90.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $664.78 on Wednesday. The business has a fifty day moving average price of $728.00 and a 200-day moving average price of $765.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The company has a market capitalization of $88.92 billion, a PE ratio of 30.36, a PEG ratio of 1.40 and a beta of 1.29. KLA Co. has a 1-year low of $524.03 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $5.74 EPS. As a group, equities analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.02%. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio (DPR) is currently 26.48%.

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.