KLA Co. (NASDAQ:KLAC) Shares Sold by 9258 Wealth Management LLC

9258 Wealth Management LLC lowered its position in KLA Co. (NASDAQ:KLAC) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286 shares of the semiconductor company’s stock after selling 61 shares during the quarter. 9258 Wealth Management LLC’s holdings in KLA were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in KLA by 16.8% during the fourth quarter. Fisher Asset Management LLC now owns 1,377 shares of the semiconductor company’s stock worth $801,000 after acquiring an additional 198 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of KLA by 1,294.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,046 shares of the semiconductor company’s stock worth $608,000 after purchasing an additional 971 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in KLA in the 4th quarter valued at approximately $248,000. Private Advisor Group LLC grew its holdings in KLA by 8.0% during the 4th quarter. Private Advisor Group LLC now owns 4,120 shares of the semiconductor company’s stock valued at $2,395,000 after buying an additional 306 shares during the last quarter. Finally, Lincoln National Corp increased its position in KLA by 11.7% during the fourth quarter. Lincoln National Corp now owns 2,513 shares of the semiconductor company’s stock worth $1,461,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In related news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brian Lorig sold 44 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the business’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 transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,917 shares of company stock valued at $14,568,247. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KLAC has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. The Goldman Sachs Group raised their price target on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Argus boosted their price objective on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Susquehanna decreased their target price 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. Finally, Raymond James lifted their target price on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average price target of $805.29.

KLA Stock Performance

Shares of KLAC stock opened at $728.06 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The company’s fifty day moving average price is $798.97 and its two-hundred day moving average price is $750.30. The firm has a market capitalization of $98.03 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.63 and a beta of 1.27. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating 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 firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $5.40 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.80%. KLA’s payout ratio is currently 30.38%.

About KLA

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.