KLA Co. (NASDAQ:KLAC) Position Increased by Community Financial Services Group LLC

Community Financial Services Group LLC lifted its position in KLA Co. (NASDAQ:KLAC) by 538.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,445 shares of the semiconductor company’s stock after acquiring an additional 6,279 shares during the period. Community Financial Services Group LLC’s holdings in KLA were worth $5,765,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KLAC. Cedar Wealth Management LLC grew its holdings in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 17 shares in the last quarter. Family Firm Inc. acquired a new position in KLA in the 2nd quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of KLA during the 2nd quarter worth about $44,000. LRI Investments LLC acquired a new stake in shares of KLA during the 1st quarter valued at about $45,000. Finally, OFI Invest Asset Management grew its stake in shares of KLA by 29.8% in the 1st quarter. OFI Invest Asset Management now owns 74 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 17 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLAC stock traded down $4.91 during mid-day trading on Monday, reaching $673.61. The stock had a trading volume of 738,213 shares, compared to its average volume of 938,157. The firm has a market cap of $90.69 billion, a PE ratio of 35.29, a P/E/G ratio of 1.60 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. KLA Co. has a one year low of $452.01 and a one year high of $896.32. The firm’s 50 day simple moving average is $770.77 and its 200 day simple moving average is $764.80.

KLA (NASDAQ:KLAC) last posted its quarterly 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. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company earned $5.40 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that KLA Co. will post 29.13 EPS for the current year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.86%. KLA’s dividend payout ratio is currently 30.38%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KLAC. TD Cowen lifted their target price on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI raised their target price on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Finally, StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $804.57.

Insider Transactions at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,873 shares of company stock valued at $14,532,193. Corporate insiders own 0.12% of the company’s stock.

KLA 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.