Pathway Financial Advisers LLC Lowers Holdings in KLA Co. (NASDAQ:KLAC)

Pathway Financial Advisers LLC lowered its holdings in KLA Co. (NASDAQ:KLAC) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,466 shares of the semiconductor company’s stock after selling 17 shares during the quarter. Pathway Financial Advisers LLC’s holdings in KLA were worth $1,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Family Firm Inc. acquired a new position in KLA in the 2nd quarter valued at about $30,000. Cedar Wealth Management LLC increased its holdings 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 during the period. 1620 Investment Advisors Inc. acquired a new stake in KLA in the 2nd quarter valued at about $44,000. Jones Financial Companies Lllp boosted its stake in shares of KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 61 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of KLA in the 1st quarter valued at approximately $46,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Down 1.0 %

KLAC opened at $774.41 on Tuesday. The company has a market cap of $104.27 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. KLA Co. has a 1 year low of $448.31 and a 1 year high of $896.32. The firm has a 50 day moving average price of $768.96 and a 200 day moving average price of $758.65.

KLA (NASDAQ:KLAC) last issued its earnings results 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. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $5.40 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that KLA Co. will post 29.09 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KLAC. Oppenheimer assumed coverage on KLA in a report on Wednesday, September 25th. They set a “market perform” rating and a $750.00 price target for the company. Argus raised their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen increased their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, Susquehanna lowered 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. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $808.62.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The disclosure for this sale can be found here. Insiders have sold 20,873 shares of company stock worth $14,532,193 in the last three months. 0.12% of the stock is 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.