Panagora Asset Management Inc. reduced its position in KLA Co. (NASDAQ:KLAC) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,747 shares of the semiconductor company’s stock after selling 14,197 shares during the quarter. Panagora Asset Management Inc.’s holdings in KLA were worth $67,979,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. AE Wealth Management LLC acquired a new position in KLA during the fourth quarter valued at approximately $224,000. CIBC Asset Management Inc boosted its position in KLA by 6.3% during the 4th quarter. CIBC Asset Management Inc now owns 26,005 shares of the semiconductor company’s stock worth $6,733,000 after purchasing an additional 1,531 shares during the period. Almanack Investment Partners LLC. acquired a new stake in KLA in the 4th quarter valued at $292,000. Baker Tilly Financial LLC purchased a new position in KLA in the fourth quarter valued at about $274,000. Finally, State of Wisconsin Investment Board lifted its stake in shares of KLA by 0.6% during the fourth quarter. State of Wisconsin Investment Board now owns 134,996 shares of the semiconductor company’s stock worth $34,952,000 after purchasing an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 87.11% of the company’s stock.
NASDAQ:KLAC traded down $1.79 during trading hours on Friday, reaching $317.52. 2,684 shares of the stock were exchanged, compared to its average volume of 1,300,800. The firm has a market cap of $48.67 billion, a PE ratio of 26.79, a P/E/G ratio of 1.62 and a beta of 1.23. The company’s 50 day moving average is $321.37. The company has a quick ratio of 1.95, a current ratio of 2.66 and a debt-to-equity ratio of 1.10. KLA Co. has a 52 week low of $171.31 and a 52 week high of $359.69.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Monday, May 17th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.13%. KLA’s payout ratio is currently 34.78%.
KLAC has been the topic of several analyst reports. Citigroup raised their target price on KLA from $360.00 to $380.00 in a report on Monday, April 19th. Morgan Stanley upped their target price on shares of KLA from $349.00 to $364.00 and gave the company an “equal weight” rating in a research note on Monday, May 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of KLA from $360.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, April 19th. Credit Suisse Group upped their price objective on shares of KLA from $325.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Finally, Zacks Investment Research upgraded KLA from a “hold” rating to a “buy” rating and set a $341.00 target price for the company in a research note on Tuesday, April 20th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $313.00.
In related news, Director Gary B. Moore purchased 377 shares of the company’s stock in a transaction dated Tuesday, May 11th. The shares were acquired at an average cost of $301.02 per share, for a total transaction of $113,484.54. Following the transaction, the director now owns 12,017 shares of the company’s stock, valued at $3,617,357.34. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $315.00, for a total value of $1,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 56,906 shares in the company, valued at approximately $17,925,390. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
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