Allworth Financial LP Sells 39 Shares of KLA Co. (NASDAQ:KLAC)

by · The Markets Daily

Allworth Financial LP reduced its stake in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,631 shares of the semiconductor company’s stock after selling 39 shares during the quarter. Allworth Financial LP’s holdings in KLA were worth $6,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB lifted its position in KLA by 0.4% during the 3rd quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after purchasing an additional 2,019 shares during the period. Community Financial Services Group LLC boosted its stake in KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after acquiring an additional 6,279 shares during the last quarter. Norden Group LLC grew its holdings in KLA by 1,579.3% during the 1st quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after acquiring an additional 6,175 shares during the period. Eastern Bank raised its position in shares of KLA by 655.8% during the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after acquiring an additional 23,747 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of KLA by 16.0% in the 1st quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock valued at $53,756,000 after purchasing an additional 10,594 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KLAC. TD Cowen lifted their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price target on shares of KLA in a research report on Tuesday, October 8th. Barclays boosted their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. UBS Group cut their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

Read Our Latest Research Report on KLAC

KLA Price Performance

NASDAQ:KLAC opened at $673.07 on Friday. KLA Co. has a 52-week low of $452.01 and a 52-week high of $896.32. The company has a market cap of $90.18 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. 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’s 50-day simple moving average is $757.70 and its 200 day simple moving average is $763.21.

KLA (NASDAQ:KLAC – Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.40 EPS. As a group, sell-side analysts forecast that KLA Co. will post 29.07 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,873 shares of company stock valued at $14,532,193. 0.12% of the stock is owned by company insiders.

KLA Company Profile

(Free Report)

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.

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