Magnetar Financial LLC purchased a new position in shares of KLA Co. (NASDAQ:KLAC – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,594 shares of the semiconductor company’s stock, valued at approximately $1,114,000.
Other institutional investors also recently modified their holdings of the company. Frazier Financial Advisors LLC acquired a new stake in shares of KLA during the 4th quarter worth approximately $26,000. Cedar Wealth Management LLC grew its position in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the period. DSM Capital Partners LLC acquired a new position in KLA during the fourth quarter valued at approximately $28,000. Addison Advisors LLC acquired a new position in KLA during the fourth quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp grew its holdings in KLA by 2,033.3% during the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.
Analyst Ratings Changes
KLAC has been the subject of several research analyst reports. Citigroup upped their price target on shares of KLA from $760.00 to $980.00 and gave the company a “buy” rating in a report on Monday, July 15th. Jefferies Financial Group initiated coverage on shares of KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price target for the company. Argus upped their price target on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of KLA in a research report on Thursday, April 11th. They issued a “buy” rating and a $800.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and a consensus target price of $806.24.
KLA Trading Up 3.2 %
NASDAQ KLAC traded up $24.58 during trading hours on Friday, reaching $787.39. The company’s stock had a trading volume of 1,047,694 shares, compared to its average volume of 842,597. The firm has a fifty day simple moving average of $809.47 and a 200-day simple moving average of $716.85. The stock has a market cap of $106.01 billion, a P/E ratio of 41.25, a P/E/G ratio of 3.10 and a beta of 1.27. KLA Co. has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.46.
KLA (NASDAQ:KLAC – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $5.40 EPS. Equities analysts forecast that KLA Co. will post 29.09 earnings per share for the current fiscal year.
KLA Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a dividend of $1.45 per share. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.74%. KLA’s payout ratio is 30.38%.
Insiders Place Their Bets
In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,905 shares of company stock worth $16,831,966. 0.12% of the stock is currently 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.
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