Legacy Wealth Asset Management LLC Sells 442 Shares of KLA Co. (NASDAQ:KLAC)

Legacy Wealth Asset Management LLC trimmed its stake in KLA Co. (NASDAQ:KLAC) by 19.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,813 shares of the semiconductor company’s stock after selling 442 shares during the period. Legacy Wealth Asset Management LLC’s holdings in KLA were worth $1,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of KLA in the third quarter valued at approximately $29,000. Groupama Asset Managment raised its holdings in KLA by 82.3% in the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,038 shares during the period. Capital Performance Advisors LLP acquired a new position in KLA during the 3rd quarter worth $38,000. FSA Wealth Management LLC bought a new stake in KLA during the third quarter valued at about $53,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of KLA in the third quarter valued at about $56,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Up 4.3 %

KLAC opened at $747.26 on Friday. The firm has a market cap of $99.95 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.47 and a beta of 1.27. 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 firm’s 50-day simple moving average is $652.37 and its 200-day simple moving average is $726.49. KLA Co. has a twelve month low of $552.85 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping 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 company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business posted $5.74 earnings per share. The company’s revenue was up 18.5% on a year-over-year basis. Equities research analysts anticipate that KLA Co. will post 30.37 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were given a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 0.91%. KLA’s payout ratio is presently 31.05%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KLAC shares. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Barclays reduced their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on shares of KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $809.10.

About KLA

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.