KLA Co. (NASDAQ:KLAC) Sees Large Growth in Short Interest

KLA Co. (NASDAQ:KLAC) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,810,000 shares, a growth of 21.6% from the October 31st total of 2,310,000 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 2.6 days.

Hedge Funds Weigh In On KLA

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in shares of KLA by 317.6% during the 3rd quarter. Tidal Investments LLC now owns 37,111 shares of the semiconductor company’s stock worth $28,739,000 after purchasing an additional 28,224 shares during the last quarter. Optimist Retirement Group LLC boosted its stake in shares of KLA by 1.6% during the 3rd quarter. Optimist Retirement Group LLC now owns 3,017 shares of the semiconductor company’s stock worth $2,337,000 after purchasing an additional 47 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of KLA in the third quarter worth approximately $310,000. Sanctuary Advisors LLC boosted its position in shares of KLA by 2.4% in the third quarter. Sanctuary Advisors LLC now owns 21,861 shares of the semiconductor company’s stock worth $16,929,000 after acquiring an additional 507 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its position in shares of KLA by 43.7% in the third quarter. Anchor Investment Management LLC now owns 125 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Trading Up 2.9 %

NASDAQ:KLAC traded up $19.00 on Monday, hitting $666.03. The stock had a trading volume of 1,380,238 shares, compared to its average volume of 973,464. 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 stock has a market cap of $89.09 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.36 and a beta of 1.29. The company has a fifty day moving average price of $697.43 and a two-hundred day moving average price of $757.21. KLA has a 1-year low of $527.11 and a 1-year high of $896.32.

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

KLA Increases Dividend

The company also recently disclosed 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 of this dividend is Monday, November 18th. This represents a $6.80 dividend on an annualized basis and a yield of 1.02%. This is an increase from KLA’s previous quarterly dividend of $1.45. KLA’s dividend payout ratio is presently 31.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KLAC shares. UBS Group reduced their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Citigroup cut their price target on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. TD Cowen lowered their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $750.00 to $850.00 in a research report on Thursday, October 31st. Finally, Susquehanna lowered their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $815.55.

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.