Farmers National Bank Has $348,000 Stock Position in KLA Co. (NASDAQ:KLAC)

Farmers National Bank raised its position in KLA Co. (NASDAQ:KLAC) by 4.2% in the second quarter, HoldingsChannel reports. The fund owned 422 shares of the semiconductor company’s stock after purchasing an additional 17 shares during the quarter. Farmers National Bank’s holdings in KLA were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grayhawk Investment Strategies Inc. bought a new position in KLA during the 4th quarter valued at $1,050,000. New Mexico Educational Retirement Board raised its position in shares of KLA by 22.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock valued at $6,133,000 after buying an additional 1,600 shares in the last quarter. Norden Group LLC lifted its stake in KLA by 1,579.3% during the first quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after purchasing an additional 6,175 shares during the last quarter. Objective Capital Management LLC purchased a new stake in shares of KLA in the 4th quarter valued at $213,000. Finally, GLOBALT Investments LLC GA bought a new position in KLA during the 4th quarter worth approximately $2,254,000. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Cowen upped their price target on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Barclays upped their target price on shares of KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Cantor Fitzgerald lowered their target price on shares of KLA from $950.00 to $925.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Evercore ISI raised their target price on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average price target of $808.62.

Insider Buying and Selling

In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 approximately $2,749,473.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at $74,257,998.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. Corporate insiders own 0.12% of the company’s stock.

KLA Trading Down 2.7 %

Shares of KLAC stock opened at $753.69 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $101.48 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. KLA Co. has a 12-month low of $448.31 and a 12-month high of $896.32. The stock’s 50-day moving average price is $767.88 and its 200-day moving average price is $759.14.

KLA (NASDAQ:KLAC) last announced its quarterly 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 net margin of 28.15% and a return on equity of 103.50%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business posted $5.40 earnings per share. KLA’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that KLA Co. will post 29.09 EPS for the current fiscal 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 dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s payout ratio is 30.38%.

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.