KLA Co. (NASDAQ:KLAC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 911,366 shares of the semiconductor company’s stock after selling 56,376 shares during the quarter. Franklin Resources Inc.’s holdings in KLA were worth $756,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of KLA by 172.1% during the second quarter. Blue Trust Inc. now owns 1,026 shares of the semiconductor company’s stock worth $846,000 after buying an additional 649 shares during the period. Brookstone Capital Management lifted its position in KLA by 11.1% during the 2nd quarter. Brookstone Capital Management now owns 519 shares of the semiconductor company’s stock worth $406,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management grew its stake in KLA by 529.7% during the 2nd quarter. OFI Invest Asset Management now owns 466 shares of the semiconductor company’s stock valued at $358,000 after purchasing an additional 392 shares during the last quarter. Western Financial Corp CA increased its holdings in shares of KLA by 80.6% in the second quarter. Western Financial Corp CA now owns 2,615 shares of the semiconductor company’s stock valued at $2,156,000 after purchasing an additional 1,167 shares during the period. Finally, Lifestyle Asset Management Inc. raised its stake in shares of KLA by 8.3% in the second quarter. Lifestyle Asset Management Inc. now owns 328 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 25 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

KLA stock opened at $653.76 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The company’s fifty day moving average price is $674.82 and its 200 day moving average price is $750.06. The stock has a market capitalization of $87.45 billion, a P/E ratio of 29.85, a P/E/G ratio of 1.38 and a beta of 1.27. KLA Co. has a 1 year low of $542.41 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) 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 business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $5.74 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that KLA Co. will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is presently 31.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KLAC shares. UBS Group dropped their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a report on Thursday, October 31st. Citigroup reduced their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Barclays lowered their price target 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, Morgan Stanley reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $812.30.

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.