Optas LLC Purchases New Shares in KLA Co. (NASDAQ:KLAC)

Optas LLC purchased a new stake in KLA Co. (NASDAQ:KLAC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 320 shares of the semiconductor company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norden Group LLC lifted its stake in KLA by 19.7% in the 1st quarter. Norden Group LLC now owns 468 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 77 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in KLA in the 1st quarter worth about $218,000. Whittier Trust Co. of Nevada Inc. lifted its stake in KLA by 1.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,543 shares of the semiconductor company’s stock worth $1,776,000 after acquiring an additional 40 shares in the last quarter. Smith Salley Wealth Management lifted its stake in KLA by 11.9% in the 1st quarter. Smith Salley Wealth Management now owns 1,244 shares of the semiconductor company’s stock worth $869,000 after acquiring an additional 132 shares in the last quarter. Finally, United Community Bank raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

KLAC opened at $669.38 on Monday. KLA Co. has a 12-month low of $484.33 and a 12-month high of $896.32. The firm has a market capitalization of $89.68 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29. The stock’s 50 day moving average price is $744.15 and its two-hundred day moving average price is $764.12. The company has a quick ratio of 1.50, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm earned $5.74 EPS. KLA’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities analysts forecast that KLA Co. will post 29.26 earnings per share for the current year.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction 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 completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KLAC shares. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $750.00 to $850.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group cut their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA 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.