Gibraltar Capital Management Inc. Purchases New Position in KLA Co. (NASDAQ:KLAC)

Gibraltar Capital Management Inc. acquired a new position in shares of KLA Co. (NASDAQ:KLAC) during the 3rd quarter, Holdings Channel reports. The fund acquired 500 shares of the semiconductor company’s stock, valued at approximately $387,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in shares of KLA by 11.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,385 shares of the semiconductor company’s stock valued at $7,268,000 after purchasing an additional 995 shares during the last quarter. abrdn plc increased its position in KLA by 18.0% during the third quarter. abrdn plc now owns 66,596 shares of the semiconductor company’s stock valued at $51,318,000 after acquiring an additional 10,139 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of KLA by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 59,246 shares of the semiconductor company’s stock worth $45,881,000 after acquiring an additional 19,522 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of KLA by 28.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 370 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 81 shares during the period. Finally, Concord Wealth Partners grew its holdings in KLA by 6.7% during the 3rd quarter. Concord Wealth Partners now owns 1,345 shares of the semiconductor company’s stock valued at $1,042,000 after purchasing an additional 85 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on KLAC shares. The Goldman Sachs Group raised their price objective on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Argus boosted their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup reduced their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus boosted their target price on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, UBS Group reduced their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $804.57.

KLA Trading Up 0.2 %

Shares of NASDAQ:KLAC opened at $674.35 on Tuesday. 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 $90.79 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.69 and a beta of 1.27. The business’s 50-day moving average is $754.78 and its 200 day moving average is $764.03. KLA Co. has a 1 year low of $452.03 and a 1 year high of $896.32.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is currently 30.38%.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the transaction, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock worth $14,532,193 in the last three months. Corporate insiders own 0.12% of the company’s stock.

About KLA

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.