Toronto Dominion Bank Cuts Stake in KLA Co. (NASDAQ:KLAC)

Toronto Dominion Bank decreased its holdings in KLA Co. (NASDAQ:KLAC) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,311 shares of the semiconductor company’s stock after selling 12,684 shares during the period. Toronto Dominion Bank owned about 0.06% of KLA worth $62,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of KLAC. Cedar Wealth Management LLC grew its stake in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares in the last quarter. Family Firm Inc. acquired a new position in shares of KLA during the second quarter worth about $30,000. Jones Financial Companies Lllp increased its stake in shares of KLA by 2,033.3% during the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in KLA in the second quarter valued at approximately $44,000. Finally, LRI Investments LLC acquired a new stake in KLA in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock opened at $770.34 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The stock has a market cap of $103.72 billion, a PE ratio of 40.35, a P/E/G ratio of 1.51 and a beta of 1.28. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The stock has a fifty day moving average price of $769.11 and a 200 day moving average price of $756.05.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data 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 firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $5.40 EPS. Sell-side analysts forecast that KLA Co. will post 29.09 earnings per share for the current fiscal 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 dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

Wall Street Analysts Forecast Growth

KLAC has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their target price on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Susquehanna cut their price target on KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Citigroup dropped their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $812.80.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Lorig sold 44 shares of the company’s 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 sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,917 shares of company stock valued at $14,568,247. Insiders own 0.12% of the company’s stock.

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.