Hennion & Walsh Asset Management Inc. Has $5.94 Million Holdings in KLA Co. (NASDAQ:KLAC)

24 Oct 2024, 14:09 by Jessica Moore · The Cerbat Gem

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 27.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,666 shares of the semiconductor company’s stock after purchasing an additional 1,668 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in KLA were worth $5,937,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KLAC. First National Bank of Hutchinson bought a new stake in KLA during the 3rd quarter worth about $378,000. Brighton Jones LLC grew its stake in shares of KLA by 706.4% during the third quarter. Brighton Jones LLC now owns 7,362 shares of the semiconductor company’s stock valued at $5,701,000 after purchasing an additional 6,449 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after purchasing an additional 301,987 shares in the last quarter. Monte Financial Group LLC raised its position in KLA by 1.5% in the 3rd quarter. Monte Financial Group LLC now owns 1,686 shares of the semiconductor company’s stock worth $1,306,000 after purchasing an additional 25 shares during the last quarter. Finally, TFG Advisers LLC lifted its holdings in KLA by 1.6% during the 3rd quarter. TFG Advisers LLC now owns 2,101 shares of the semiconductor company’s stock worth $1,627,000 after buying an additional 33 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

KLA Trading Down 0.8 %

NASDAQ:KLAC opened at $664.63 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The business’s 50-day simple moving average is $764.03 and its 200-day simple moving average is $764.02. KLA Co. has a fifty-two week low of $452.01 and a fifty-two week high of $896.32. The stock has a market capitalization of $89.49 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $5.40 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that KLA Co. will post 29.13 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is presently 30.38%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KLAC. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 target price on shares of KLA in a research note on Tuesday, October 8th. Barclays boosted their price objective on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Argus raised their target price on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company cut their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and a consensus price target of $804.57.

Check Out Our Latest Stock Report on KLAC

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 17,437 shares of the business’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 sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 directly owns 105,329 shares in the company, valued at $74,257,998.29. This trade represents 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 the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,873 shares of company stock worth $14,532,193. Corporate insiders own 0.12% of the company’s stock.

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.