Grimes & Company Inc. Sells 161 Shares of KLA Co. (NASDAQ:KLAC)

Grimes & Company Inc. decreased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,556 shares of the semiconductor company’s stock after selling 161 shares during the quarter. Grimes & Company Inc.’s holdings in KLA were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new stake in KLA during the 4th quarter worth about $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of KLA in the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in shares of KLA in the fourth quarter valued at approximately $28,000. Addison Advisors LLC purchased a new position in KLA during the fourth quarter valued at approximately $29,000. Finally, Operose Advisors LLC bought a new stake in KLA during the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on KLAC shares. Cantor Fitzgerald boosted their price target on shares of KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Bank of America lifted their price target on KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company upped their price objective on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, Evercore ISI initiated coverage on shares of KLA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.40.

KLA Price Performance

Shares of KLA stock opened at $824.51 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. KLA Co. has a one year low of $440.15 and a one year high of $876.55. The business’s 50 day simple moving average is $759.32 and its two-hundred day simple moving average is $681.20. The stock has a market capitalization of $111.01 billion, a P/E ratio of 43.19, a price-to-earnings-growth ratio of 3.95 and a beta of 1.28.

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

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a yield of 0.70%. KLA’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the company’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 transaction of $803,563.02. Following the completion of the transaction, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Ahmad A. Khan sold 7,833 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total value of $5,953,080.00. Following the completion of the transaction, the insider now owns 32,105 shares of the company’s stock, valued at approximately $24,399,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 31,356 shares in the company, valued at $24,726,714.48. The disclosure for this sale can be found here. Insiders sold 22,861 shares of company stock valued at $16,795,913 in the last 90 days. Insiders own 0.12% of the company’s stock.

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.