KLA Co. (NASDAQ:KLAC) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lessened its stake in shares of KLA Co. (NASDAQ:KLACGet Rating) by 57.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83 shares of the semiconductor company’s stock after selling 110 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in KLA were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KLAC. Delos Wealth Advisors LLC increased its position in shares of KLA by 154.3% during the fourth quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 54 shares during the last quarter. Centerpoint Advisors LLC bought a new position in KLA in the first quarter valued at approximately $43,000. DeDora Capital Inc. bought a new position in KLA in the first quarter valued at approximately $55,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its position in shares of KLA by 36.4% during the first quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 150 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 40 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of KLA by 66.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 155 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 62 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on KLAC. Bank of America lowered their price target on shares of KLA from $430.00 to $410.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Barclays dropped their target price on shares of KLA from $365.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. Evercore ISI set a $425.00 target price on shares of KLA in a research report on Monday, June 20th. Piper Sandler lowered their price objective on shares of KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Finally, StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $424.16.

Insider Activity

In other news, insider Ahmad A. Khan sold 7,736 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total value of $2,786,971.36. Following the completion of the transaction, the insider now directly owns 77,927 shares in the company, valued at $28,073,981.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other KLA news, insider Ahmad A. Khan sold 7,736 shares of KLA stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the completion of the sale, the insider now directly owns 77,927 shares in the company, valued at $28,073,981.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Lorig sold 255 shares of KLA stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $375.00, for a total transaction of $95,625.00. Following the sale, the executive vice president now owns 32,906 shares of the company’s stock, valued at $12,339,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,761 shares of company stock worth $5,468,670. 0.16% of the stock is owned by company insiders.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $335.53 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.50 and a debt-to-equity ratio of 4.76. The firm has a market capitalization of $47.58 billion, a PE ratio of 15.32, a P/E/G ratio of 1.13 and a beta of 1.35. KLA Co. has a twelve month low of $282.83 and a twelve month high of $457.12. The company has a 50-day moving average price of $356.37 and a two-hundred day moving average price of $343.99.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business earned $4.43 earnings per share. KLA’s revenue was up 29.2% compared to the same quarter last year. Equities analysts forecast that KLA Co. will post 24.65 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a $1.30 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.05. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, August 12th. KLA’s dividend payout ratio (DPR) is 23.74%.

KLA declared that its board has approved a stock repurchase program on Thursday, June 16th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About KLA

(Get Rating)

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 four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

See Also

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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