SteelPeak Wealth LLC Takes Position in KLA Co. (NASDAQ:KLAC)

SteelPeak Wealth LLC purchased a new stake in shares of KLA Co. (NASDAQ:KLAC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,337 shares of the semiconductor company’s stock, valued at approximately $9,554,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KLAC. Capital Market Strategies LLC lifted its position in shares of KLA by 1.6% during the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 13 shares during the period. HBW Advisory Services LLC boosted its holdings in shares of KLA by 2.6% in the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares during the period. TIAA Trust National Association grew its stake in KLA by 0.4% in the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 14 shares in the last quarter. Finally, United Community Bank increased its holdings in KLA by 4.0% during the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KLAC. Stifel Nicolaus increased their price target on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup dropped their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Barclays increased their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $804.57.

KLA Stock Performance

NASDAQ KLAC traded down $9.22 during trading hours on Wednesday, reaching $687.01. The stock had a trading volume of 295,125 shares, compared to its average volume of 936,197. KLA Co. has a 52-week low of $453.50 and a 52-week high of $896.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The stock has a market cap of $92.50 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The stock has a fifty day moving average of $752.47 and a 200 day moving average of $764.14.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 annualized dividend and a dividend yield of 0.84%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the company’s 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 sale, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the 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 transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock worth $14,532,193 over the last three months. Company insiders own 0.12% of the company’s stock.

KLA Company Profile

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.