First Hawaiian Bank Cuts Stake in KLA Co. (NASDAQ:KLAC)

First Hawaiian Bank trimmed its stake in KLA Co. (NASDAQ:KLAC) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,855 shares of the semiconductor company’s stock after selling 157 shares during the quarter. First Hawaiian Bank’s holdings in KLA were worth $1,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of KLA by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 922 shares of the semiconductor company’s stock worth $644,000 after buying an additional 189 shares during the last quarter. Insight Wealth Strategies LLC acquired a new stake in KLA during the first quarter worth about $3,455,000. CWM LLC raised its holdings in shares of KLA by 3.9% in the 1st quarter. CWM LLC now owns 2,705 shares of the semiconductor company’s stock worth $1,890,000 after purchasing an additional 102 shares during the period. Trust Co. of Toledo NA OH lifted its stake in shares of KLA by 3.2% in the 1st quarter. Trust Co. of Toledo NA OH now owns 1,961 shares of the semiconductor company’s stock valued at $1,370,000 after purchasing an additional 60 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of KLA by 3.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,388 shares of the semiconductor company’s stock valued at $807,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Price Performance

KLAC opened at $863.31 on Thursday. The company has a market capitalization of $116.24 billion, a P/E ratio of 45.22, a PEG ratio of 4.13 and a beta of 1.28. The company has a 50-day moving average of $738.79 and a 200-day moving average of $667.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. KLA Co. has a 1-year low of $440.15 and a 1-year high of $876.55.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $5.49 earnings per share. KLA’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts expect that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analyst Ratings Changes

KLAC has been the topic of several research reports. TD Cowen raised their price target on shares of KLA from $650.00 to $700.00 and gave the company a “hold” rating in a report on Friday, April 26th. Susquehanna restated a “neutral” rating and set a $675.00 target price on shares of KLA in a report on Monday, April 1st. Citigroup upped their price target on shares of KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Raymond James raised their price objective on KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, Jefferies Financial Group initiated coverage on KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and a consensus target price of $747.40.

Insiders Place Their Bets

In other KLA news, insider Ahmad A. Khan sold 7,833 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the sale, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the sale, the chief financial officer now owns 31,356 shares of the company’s stock, valued at approximately $24,726,714.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ahmad A. Khan sold 7,833 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total value of $5,953,080.00. Following the transaction, the insider now owns 32,105 shares of the company’s stock, valued at approximately $24,399,800. The disclosure for this sale can be found here. Insiders sold a total of 33,136 shares of company stock valued at $24,016,781 over the last 90 days. 0.12% of the stock is owned by company insiders.

KLA Profile

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.