Thrivent Financial for Lutherans Sells 336 Shares of KLA Co. (NASDAQ:KLAC)

Thrivent Financial for Lutherans cut its stake in KLA Co. (NASDAQ:KLAC) by 1.1% in the third quarter, HoldingsChannel reports. The fund owned 31,117 shares of the semiconductor company’s stock after selling 336 shares during the period. Thrivent Financial for Lutherans’ holdings in KLA were worth $24,097,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in KLA during the 2nd quarter worth $30,000. Capital Performance Advisors LLP acquired a new position in shares of KLA during the third quarter valued at $38,000. 1620 Investment Advisors Inc. bought a new position in KLA in the second quarter valued at about $44,000. LRI Investments LLC acquired a new stake in KLA in the first quarter worth about $46,000. Finally, Olistico Wealth LLC bought a new stake in KLA during the 2nd quarter worth about $53,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Down 0.7 %

Shares of NASDAQ:KLAC opened at $615.66 on Wednesday. The firm has a market cap of $82.35 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.29 and a beta of 1.29. KLA Co. has a 12 month low of $527.11 and a 12 month high of $896.32. The company’s fifty day simple moving average is $719.23 and its 200 day simple moving average is $763.35. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last released its quarterly 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. The firm 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% on a year-over-year basis. During the same quarter last year, the business posted $5.74 EPS. As a group, research analysts forecast that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.10%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is 26.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KLAC. StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. UBS Group lowered their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Eight investment 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 has an average rating of “Moderate Buy” and a consensus 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.