Chevy Chase Trust Holdings LLC Reduces Stock Holdings in KLA Co. (NASDAQ:KLAC)

Chevy Chase Trust Holdings LLC lowered its position in shares of KLA Co. (NASDAQ:KLAC) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,888 shares of the semiconductor company’s stock after selling 1,044 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of KLA worth $52,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of KLA during the fourth quarter valued at $25,000. Frazier Financial Advisors LLC bought a new stake in KLA in the 4th quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in KLA in the 4th quarter worth about $28,000. Addison Advisors LLC bought a new stake in KLA in the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp increased its holdings in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Trading Up 1.3 %

Shares of NASDAQ KLAC traded up $11.23 during trading hours on Wednesday, hitting $886.13. 229,151 shares of the company traded hands, compared to its average volume of 883,161. The stock has a market capitalization of $119.31 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 3.43 and a beta of 1.27. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The company’s 50 day moving average price is $784.30 and its 200 day moving average price is $695.51. KLA Co. has a 12 month low of $440.15 and a 12 month high of $888.57.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 EPS. On average, equities research analysts anticipate that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Citigroup boosted their price target on KLA from $725.00 to $760.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research note on Thursday, April 11th. They set a “buy” rating and a $800.00 price target for the company. Finally, Evercore ISI started coverage on KLA in a research note on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $747.40.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ahmad A. Khan sold 7,833 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the completion of the sale, the insider now directly owns 32,105 shares in the company, valued at approximately $24,399,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock valued at $16,831,966 in the last quarter. 0.12% of the stock is owned by insiders.

KLA Company Profile

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