Boomfish Wealth Group LLC Sells 684 Shares of KLA Co. (NASDAQ:KLAC)

Boomfish Wealth Group LLC cut its position in KLA Co. (NASDAQ:KLAC) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,029 shares of the semiconductor company’s stock after selling 684 shares during the period. KLA accounts for approximately 1.6% of Boomfish Wealth Group LLC’s investment portfolio, making the stock its 18th biggest holding. Boomfish Wealth Group LLC’s holdings in KLA were worth $2,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in shares of KLA in the 4th quarter worth $26,000. Cedar Wealth Management LLC grew its holdings in shares of KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 17 shares during the last quarter. DSM Capital Partners LLC bought a new stake in shares of KLA during the fourth quarter worth about $28,000. Addison Advisors LLC acquired a new stake in shares of KLA in the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp lifted its position in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 61 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Price Performance

KLAC traded down $16.62 during trading on Friday, reaching $819.57. The stock had a trading volume of 673,447 shares, compared to its average volume of 934,722. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The business has a 50-day moving average of $806.90 and a 200-day moving average of $734.62. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The stock has a market cap of $110.35 billion, a PE ratio of 42.93, a PEG ratio of 1.50 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. KLA’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.40 EPS. As a group, equities research analysts anticipate that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.71%. KLA’s payout ratio is 30.38%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KLAC. Wells Fargo & Company raised their target price on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Stifel Nicolaus boosted their price target on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lifted their price target on KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James increased their price target on KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $805.29.

Insider Buying and Selling at KLA

In other KLA news, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,769 shares of company stock worth $21,324,890. 0.12% of the stock is currently owned by insiders.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.