KLA Co. (NASDAQ:KLAC) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its holdings in KLA Co. (NASDAQ:KLAC) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 786 shares of the semiconductor company’s stock after selling 40 shares during the quarter. Procyon Advisors LLC’s holdings in KLA were worth $609,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in KLA in the 1st quarter worth approximately $379,678,000. Van ECK Associates Corp boosted its stake in KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after purchasing an additional 211,227 shares during the period. 1832 Asset Management L.P. boosted its stake in KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after purchasing an additional 192,849 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in KLA by 136.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock worth $214,667,000 after purchasing an additional 178,474 shares during the period. Finally, Findlay Park Partners LLP boosted its stake in KLA by 56.2% in the 1st quarter. Findlay Park Partners LLP now owns 302,782 shares of the semiconductor company’s stock worth $211,514,000 after purchasing an additional 108,900 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Argus raised their price objective on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. Wells Fargo & Company decreased their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Evercore ISI lifted their target price 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. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus target price of $804.57.

KLA Stock Down 14.7 %

KLA stock opened at $707.72 on Wednesday. The firm has a market cap of $95.29 billion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. KLA Co. has a fifty-two week low of $452.01 and a fifty-two week high of $896.32. The firm has a fifty day moving average price of $774.08 and a two-hundred day moving average price of $765.30.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The firm had revenue of $2.57 billion during 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%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.40 EPS. As a group, analysts forecast that KLA Co. will post 29.13 earnings per share for the current year.

KLA Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is 30.38%.

Insiders Place Their Bets

In other KLA 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 transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 of the company’s stock, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock valued at $14,532,193 in the last quarter. Insiders own 0.12% of the company’s stock.

KLA Company Profile

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.