Greystone Financial Group LLC Raises Position in KLA Co. (NASDAQ:KLAC)

Greystone Financial Group LLC increased its holdings in KLA Co. (NASDAQ:KLAC) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,188 shares of the semiconductor company’s stock after purchasing an additional 15 shares during the period. Greystone Financial Group LLC’s holdings in KLA were worth $980,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of KLA during the 4th quarter valued at $1,048,728,000. Dakota Wealth Management purchased a new stake in KLA during the first quarter valued at about $627,399,000. Swedbank AB acquired a new stake in KLA during the first quarter worth about $379,678,000. Wellington Management Group LLP raised its holdings in shares of KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after purchasing an additional 386,810 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of KLA by 43.4% in the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction dated 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 approximately $74,257,998.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on 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 approximately $74,257,998.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,917 shares of company stock worth $14,568,247. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Barclays upped their price target on shares of KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $950.00 price objective on shares of KLA in a research report on Thursday, July 25th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group raised their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.29.

KLA Stock Performance

KLAC traded down $25.26 on Friday, hitting $702.80. 1,390,673 shares of the company’s stock were exchanged, compared to its average volume of 932,352. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock has a fifty day moving average of $796.54 and a two-hundred day moving average of $750.59. KLA Co. has a twelve month low of $440.15 and a twelve month high of $896.32. The firm has a market cap of $94.62 billion, a PE ratio of 36.82, a P/E/G ratio of 1.63 and a beta of 1.28.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm earned $5.40 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate 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 Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is 30.38%.

About KLA

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.