Systematic Financial Management LP Sells 35 Shares of KLA Co. (NASDAQ:KLAC)

Systematic Financial Management LP cut its holdings in KLA Co. (NASDAQ:KLAC) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,887 shares of the semiconductor company’s stock after selling 35 shares during the quarter. Systematic Financial Management LP’s holdings in KLA were worth $4,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Silver Lake Advisory LLC bought a new position in shares of KLA during the second quarter worth $202,000. Copperwynd Financial LLC boosted its position in shares of KLA by 1.5% during the second quarter. Copperwynd Financial LLC now owns 1,588 shares of the semiconductor company’s stock worth $1,307,000 after purchasing an additional 23 shares in the last quarter. Algert Global LLC bought a new position in shares of KLA during the second quarter worth $239,000. Ascent Group LLC boosted its position in shares of KLA by 16.6% during the second quarter. Ascent Group LLC now owns 2,546 shares of the semiconductor company’s stock worth $2,099,000 after purchasing an additional 362 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of KLA during the second quarter worth $218,000. 86.65% of the stock is owned by institutional investors.

Insider Transactions at KLA

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares in the company, valued at approximately $6,063,876.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock worth $14,568,247 in the last ninety days. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KLAC shares. UBS Group reduced their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Citigroup cut their price objective 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. Susquehanna cut their price objective on shares of KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $950.00 price objective on shares of KLA in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $809.81.

KLA Stock Down 2.8 %

Shares of KLAC stock opened at $782.40 on Monday. The firm has a market capitalization of $105.34 billion, a P/E ratio of 40.98, a PEG ratio of 1.51 and a beta of 1.28. The firm’s fifty day moving average price is $769.66 and its two-hundred day moving average price is $758.07. KLA Co. has a 1 year low of $443.71 and a 1 year high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion for 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%. KLA’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.40 EPS. On average, equities analysts predict that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.74%. KLA’s dividend payout ratio is presently 30.38%.

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.