Hanlon Investment Management Inc. Buys 21 Shares of KLA Co. (NASDAQ:KLAC)

Hanlon Investment Management Inc. raised its position in shares of KLA Co. (NASDAQ:KLAC) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,848 shares of the semiconductor company’s stock after acquiring an additional 21 shares during the quarter. Hanlon Investment Management Inc.’s holdings in KLA were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Frazier Financial Advisors LLC bought a new position in shares of KLA during the 4th quarter worth $26,000. Cedar Wealth Management LLC raised its stake in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 17 shares during the period. DSM Capital Partners LLC purchased a new stake in KLA during the fourth quarter valued at about $28,000. Family Firm Inc. bought a new position in KLA during the second quarter worth about $30,000. Finally, Jones Financial Companies Lllp increased its stake in shares of KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 61 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Down 3.5 %

KLAC opened at $702.80 on Friday. The business’s fifty day simple moving average is $796.54 and its 200 day simple moving average is $750.59. KLA Co. has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The stock has a market cap of $94.62 billion, a PE ratio of 36.82, a P/E/G ratio of 1.63 and a beta of 1.28.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) 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 analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.40 EPS. As a group, research analysts expect that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of KLA 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 transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction that occurred on 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 directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen raised their price objective on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Argus raised their price target on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna reduced their price target on KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Raymond James increased their price objective on KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, Stifel Nicolaus lifted their target price on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Nine 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, the company has an average rating of “Moderate Buy” and an average price target of $805.29.

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.