Lake Street Private Wealth LLC Grows Position in KLA Co. (NASDAQ:KLAC)

Lake Street Private Wealth LLC lifted its position in shares of KLA Co. (NASDAQ:KLAC) by 8.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,221 shares of the semiconductor company’s stock after purchasing an additional 94 shares during the quarter. Lake Street Private Wealth LLC’s holdings in KLA were worth $853,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KLAC. Vanguard Group Inc. boosted its holdings in KLA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,036,035 shares of the semiconductor company’s stock worth $7,577,847,000 after acquiring an additional 133,821 shares during the period. Wellington Management Group LLP raised its position in shares of KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares in the last quarter. Norges Bank acquired a new stake in shares of KLA during the fourth quarter worth approximately $1,048,728,000. Morgan Stanley increased its stake in shares of KLA by 10.2% in the third quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock worth $581,496,000 after buying an additional 117,584 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after acquiring an additional 301,848 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In other news, insider Ahmad A. Khan sold 7,833 shares of the business’s 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 transaction, the insider now directly owns 32,105 shares in the company, valued at approximately $24,399,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ahmad A. Khan sold 7,833 shares of the firm’s 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 transaction, the insider now owns 32,105 shares in the company, valued at approximately $24,399,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,905 shares of company stock worth $16,831,966. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KLAC shares. Evercore ISI began coverage on shares of KLA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 target price for the company. Cantor Fitzgerald upped their price target on KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen increased their price objective on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Susquehanna restated a “neutral” rating and issued a $675.00 target price on shares of KLA in a research note on Monday, April 1st. Finally, Stifel Nicolaus increased their price target on KLA from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $747.40.

KLA Stock Up 1.7 %

KLAC stock opened at $853.33 on Thursday. The firm has a market cap of $114.89 billion, a PE ratio of 44.70, a P/E/G ratio of 3.32 and a beta of 1.27. KLA Co. has a 12 month low of $440.15 and a 12 month high of $876.55. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $770.95 and a 200 day simple moving average of $686.67.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping 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 business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $5.49 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. Equities research analysts forecast that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 14th. KLA’s payout ratio is presently 30.38%.

KLA Company 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.