Bleakley Financial Group LLC Purchases 41 Shares of KLA Co. (NASDAQ:KLAC)

Bleakley Financial Group LLC grew its position in KLA Co. (NASDAQ:KLAC) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,532 shares of the semiconductor company’s stock after acquiring an additional 41 shares during the quarter. Bleakley Financial Group LLC’s holdings in KLA were worth $6,607,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KLAC. Swedbank AB acquired a new position in shares of KLA in the 1st quarter worth approximately $379,678,000. Van ECK Associates Corp raised its holdings in shares of 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 buying an additional 211,227 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of 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 buying an additional 192,849 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of 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 buying an additional 178,474 shares in the last quarter. Finally, Findlay Park Partners LLP raised its holdings in shares of 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 buying an additional 108,900 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Insider Transactions at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was 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 directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock worth $14,532,193 over the last quarter. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

KLAC stock opened at $670.25 on Friday. The business’s 50-day moving average price is $772.14 and its two-hundred day moving average price is $764.07. 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 firm has a market cap of $90.24 billion, a PE ratio of 35.11, a P/E/G ratio of 1.60 and a beta of 1.27. KLA Co. has a 1-year low of $452.01 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $5.40 earnings per share. As a group, research analysts forecast that KLA Co. will post 29.13 earnings per share for the current year.

KLA Announces Dividend

The company also recently disclosed 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. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KLAC. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Oppenheimer started coverage on KLA in a report on Wednesday, September 25th. They set a “market perform” rating and a $750.00 price target for the company. Argus raised their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen raised their price target on KLA from $700.00 to $760.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $804.57.

About KLA

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.