Sheaff Brock Investment Advisors LLC Reduces Holdings in KLA Co. (NASDAQ:KLAC)

Sheaff Brock Investment Advisors LLC reduced its stake in KLA Co. (NASDAQ:KLAC) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,350 shares of the semiconductor company’s stock after selling 288 shares during the quarter. KLA comprises about 1.1% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. Sheaff Brock Investment Advisors LLC’s holdings in KLA were worth $12,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of KLAC. Avantax Advisory Services Inc. boosted its holdings in shares of KLA by 2.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,424 shares of the semiconductor company’s stock valued at $995,000 after acquiring an additional 31 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in KLA by 6.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,214 shares of the semiconductor company’s stock worth $2,944,000 after purchasing an additional 251 shares in the last quarter. Trillium Asset Management LLC purchased a new stake in KLA in the 1st quarter worth approximately $204,000. Dorsey & Whitney Trust CO LLC grew its stake in shares of KLA by 5.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 994 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 51 shares during the period. Finally, Alera Investment Advisors LLC acquired a new position in shares of KLA in the 1st quarter valued at $224,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Price Performance

KLA stock opened at $645.00 on Friday. The firm has a fifty day moving average of $724.45 and a 200-day moving average of $764.10. KLA Co. has a 52-week low of $527.11 and a 52-week high of $896.32. 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 firm has a market capitalization of $86.28 billion, a P/E ratio of 29.45, a PEG ratio of 1.36 and a beta of 1.29.

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

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.05%. KLA’s payout ratio is currently 26.48%.

Analysts Set New Price Targets

KLAC has been the subject of a number of analyst reports. Oppenheimer upgraded shares of KLA from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Susquehanna reduced their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Evercore ISI raised their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen decreased their target price on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $802.90.

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.