KLA Co. (NASDAQ:KLAC) Stake Cut by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC decreased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 48.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 522 shares of the semiconductor company’s stock after selling 500 shares during the period. Joel Isaacson & Co. LLC’s holdings in KLA were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB acquired a new position in KLA in the first quarter valued at approximately $379,678,000. International Assets Investment Management LLC boosted its position in KLA by 76,452.4% during the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after purchasing an additional 301,987 shares during the period. Assenagon Asset Management S.A. grew its stake in KLA by 6,188.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock worth $185,397,000 after buying an additional 235,597 shares during the last quarter. Van ECK Associates Corp increased its position in KLA by 25.7% in the first quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after buying an additional 211,227 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in KLA by 2,205.8% in the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock valued at $166,215,000 after buying an additional 192,849 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Up 1.0 %

Shares of NASDAQ KLAC opened at $673.07 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. KLA Co. has a 12 month low of $452.01 and a 12 month high of $896.32. The company has a market cap of $90.18 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. The business has a fifty day simple moving average of $757.70 and a 200-day simple moving average of $763.21.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company posted $5.40 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts predict that KLA Co. will post 29.07 EPS for the current year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 28.57%.

Insider Buying and Selling at KLA

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction on Monday, August 5th. The stock was 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 owns 9,298 shares in the company, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock valued at $14,532,193 in the last three months. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on KLAC shares. Citigroup lowered their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Evercore ISI raised their price target on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna reduced their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. The Goldman Sachs Group raised their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus price target of $804.57.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.