Hollencrest Capital Management Decreases Stake in KLA Co. (NASDAQ:KLAC)

Hollencrest Capital Management trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,336 shares of the semiconductor company’s stock after selling 305 shares during the period. Hollencrest Capital Management’s holdings in KLA were worth $3,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KLAC. Swedbank AB raised its holdings in KLA by 0.4% during the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after purchasing an additional 2,019 shares in the last quarter. Community Financial Services Group LLC boosted its position in shares of KLA by 538.5% in the 3rd quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 6,279 shares during the period. Eastern Bank grew its stake in KLA by 655.8% during the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock worth $21,194,000 after buying an additional 23,747 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of KLA by 16.0% in the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock valued at $53,756,000 after acquiring an additional 10,594 shares during the period. Finally, Generate Investment Management Ltd grew its position in shares of KLA by 39.0% during the third quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after acquiring an additional 1,651 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Up 0.5 %

KLAC traded up $3.36 during midday trading on Friday, hitting $689.51. 305,875 shares of the company’s stock traded hands, compared to its average volume of 947,782. 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 cap of $92.23 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. KLA Co. has a one year low of $505.50 and a one year high of $896.32. The stock’s fifty day simple moving average is $735.90 and its 200-day simple moving average is $763.89.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results 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 the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.74 earnings per share. As a group, equities analysts anticipate that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 0.99%. This is a positive change from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is 26.48%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays lowered their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Argus raised their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

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.