KLA Co. (NASDAQ:KLAC) Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in KLA Co. (NASDAQ:KLAC) by 17.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,906 shares of the semiconductor company’s stock after selling 4,069 shares during the quarter. State of Alaska Department of Revenue’s holdings in KLA were worth $11,912,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC raised its stake in KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after acquiring an additional 3,408,617 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of KLA by 76,452.4% during the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after purchasing an additional 301,987 shares during the period. Van ECK Associates Corp raised its stake in shares of KLA by 25.7% during the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after purchasing an additional 235,597 shares during the period. Finally, Two Sigma Advisers LP grew its position in KLA by 10,766.7% in the 3rd quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after buying an additional 226,100 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLA stock opened at $761.82 on Friday. The stock has a market cap of $101.90 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. KLA Co. has a 12 month low of $598.68 and a 12 month high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The business has a fifty day simple moving average of $682.77 and a 200-day simple moving average of $716.21.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, sell-side analysts anticipate that KLA Co. will post 30.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KLAC has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. UBS Group boosted their target price on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley increased their price target on KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a research note on Monday. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, TD Cowen decreased their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $831.68.

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.