NJ State Employees Deferred Compensation Plan Sells 700 Shares of KLA Co. (NASDAQ:KLAC)

NJ State Employees Deferred Compensation Plan trimmed its stake in KLA Co. (NASDAQ:KLAC) by 8.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,500 shares of the semiconductor company’s stock after selling 700 shares during the period. KLA comprises approximately 0.6% of NJ State Employees Deferred Compensation Plan’s holdings, making the stock its 29th largest position. NJ State Employees Deferred Compensation Plan’s holdings in KLA were worth $4,726,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KLAC. Swedbank AB raised its holdings in shares of KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after buying an additional 2,019 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of KLA by 16.0% in the third quarter. Farther Finance Advisors LLC now owns 819 shares of the semiconductor company’s stock worth $634,000 after buying an additional 113 shares during the period. Clear Creek Financial Management LLC raised its holdings in shares of KLA by 352.0% in the third quarter. Clear Creek Financial Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $875,000 after buying an additional 880 shares during the period. Optas LLC purchased a new stake in shares of KLA in the third quarter worth approximately $248,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of KLA in the third quarter worth approximately $116,000. 86.65% of the stock is owned by institutional investors.

KLA Trading Down 2.5 %

Shares of NASDAQ:KLAC opened at $691.15 on Tuesday. KLA Co. has a 12-month low of $609.40 and a 12-month high of $896.32. The business’s fifty day simple moving average is $717.73 and its 200-day simple moving average is $713.28. The company has a market capitalization of $91.84 billion, a PE ratio of 29.06, a P/E/G ratio of 1.57 and a beta of 1.28. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, equities research analysts predict that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.98%. KLA’s payout ratio is 28.60%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on KLA from $703.00 to $748.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price target on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus increased their price target on KLA from $800.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Needham & Company LLC raised their price objective on KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average price target of $831.68.

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.