Inspire Investing LLC Lowers Stock Position in KLA Co. (NASDAQ:KLAC)

Inspire Investing LLC reduced its stake in shares of KLA Co. (NASDAQ:KLAC) by 18.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,440 shares of the semiconductor company’s stock after selling 2,760 shares during the period. KLA comprises 1.2% of Inspire Investing LLC’s investment portfolio, making the stock its 7th biggest position. Inspire Investing LLC’s holdings in KLA were worth $10,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Family Firm Inc. bought a new stake in KLA in the 2nd quarter valued at about $30,000. Cedar Wealth Management LLC raised its position in shares of KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of KLA in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in KLA in the 4th quarter worth approximately $28,000. Finally, 1620 Investment Advisors Inc. purchased a new position in KLA in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Price Performance

KLAC opened at $731.04 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The stock’s 50 day simple moving average is $776.57 and its 200 day simple moving average is $754.25. The firm has a market cap of $98.43 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.49 and a beta of 1.28.

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

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is currently 30.38%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KLAC. Cantor Fitzgerald restated a “neutral” rating and set a $950.00 target price on shares of KLA in a research report on Thursday, July 25th. Argus upped their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, TD Cowen lifted their price target on KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $812.80.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the company’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 completion of the transaction, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is currently owned by 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.