Mutual of America Capital Management LLC Reduces Holdings in KLA Co. (NASDAQ:KLAC)

Mutual of America Capital Management LLC trimmed its stake in KLA Co. (NASDAQ:KLAC) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,980 shares of the semiconductor company’s stock after selling 751 shares during the period. Mutual of America Capital Management LLC’s holdings in KLA were worth $14,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Perennial Investment Advisors LLC grew its position in KLA by 10.1% during the 2nd quarter. Perennial Investment Advisors LLC now owns 608 shares of the semiconductor company’s stock worth $501,000 after purchasing an additional 56 shares during the last quarter. Tower Wealth Partners Inc. purchased a new position in KLA during the 2nd quarter worth $240,000. Edgestream Partners L.P. grew its position in KLA by 422.5% during the 2nd quarter. Edgestream Partners L.P. now owns 8,313 shares of the semiconductor company’s stock worth $6,854,000 after purchasing an additional 6,722 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of KLA by 58.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 566 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 209 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of KLA in the 2nd quarter worth $794,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KLA

In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 in the company, valued at $74,257,998.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The disclosure for this sale can be found here. Insiders sold a total of 20,917 shares of company stock worth $14,568,247 over the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus raised their target price 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 restated a “neutral” rating and issued a $950.00 target price on shares of KLA in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, UBS Group reduced their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $812.80.

KLA Stock Performance

Shares of KLAC opened at $739.60 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 cap of $99.58 billion, a P/E ratio of 38.74, a PEG ratio of 1.49 and a beta of 1.28. The company has a 50-day moving average of $779.79 and a two-hundred day moving average of $754.41. KLA Co. has a 12-month low of $440.15 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results 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 company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.40 earnings per share. As a group, research analysts predict that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.78%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

KLA 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.