KCM Investment Advisors LLC Sells 340 Shares of KLA Co. (NASDAQ:KLAC)

KCM Investment Advisors LLC decreased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,989 shares of the semiconductor company’s stock after selling 340 shares during the quarter. KCM Investment Advisors LLC’s holdings in KLA were worth $13,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in KLA by 102.9% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 156,595 shares of the semiconductor company’s stock worth $129,114,000 after purchasing an additional 79,431 shares during the last quarter. Crewe Advisors LLC grew its position in KLA by 232.1% during the second quarter. Crewe Advisors LLC now owns 93 shares of the semiconductor company’s stock worth $77,000 after buying an additional 65 shares in the last quarter. Highview Capital Management LLC DE increased its stake in KLA by 11.4% during the second quarter. Highview Capital Management LLC DE now owns 1,500 shares of the semiconductor company’s stock valued at $1,237,000 after acquiring an additional 153 shares during the period. F M Investments LLC acquired a new position in KLA in the 2nd quarter valued at approximately $1,034,000. Finally, Blue Chip Partners LLC raised its holdings in KLA by 11.2% in the 2nd quarter. Blue Chip Partners LLC now owns 18,889 shares of the semiconductor company’s stock valued at $15,574,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, 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 available at the SEC website. In related news, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction dated 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 $11,644,493.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,917 shares of company stock worth $14,568,247. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI boosted their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays increased their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Raymond James lifted their target price on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. TD Cowen increased their price target on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Citigroup decreased their price objective on KLA from $990.00 to $960.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $805.29.

KLA Trading Up 3.0 %

Shares of KLA stock traded up $23.68 during trading on Friday, hitting $819.43. 1,079,251 shares of the company were exchanged, compared to its average volume of 925,996. 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 firm has a market capitalization of $110.33 billion, a P/E ratio of 42.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The firm’s fifty day moving average price is $803.10 and its 200 day moving average price is $747.34. KLA Co. has a 1-year low of $440.15 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) 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 firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.40 earnings per share. As a group, sell-side analysts expect that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, August 15th. KLA’s payout ratio is presently 30.38%.

KLA 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.