WASHINGTON TRUST Co Has $22.59 Million Stake in KLA Co. (NASDAQ:KLAC)

WASHINGTON TRUST Co reduced its position in shares of KLA Co. (NASDAQ:KLAC) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,172 shares of the semiconductor company’s stock after selling 1,143 shares during the quarter. WASHINGTON TRUST Co’s holdings in KLA were worth $22,591,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KLAC. Cedar Wealth Management LLC lifted its stake in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares in the last quarter. Family Firm Inc. purchased a new position in KLA during the second quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new position in KLA in the 2nd quarter valued at approximately $44,000. LRI Investments LLC purchased a new stake in KLA in the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC acquired a new stake in shares of KLA during the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In related news, 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 transaction 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 $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares in the company, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock valued at $14,532,193 in the last ninety days. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

NASDAQ KLAC traded down $5.42 during trading on Wednesday, hitting $690.81. The company’s stock had a trading volume of 214,927 shares, compared to its average volume of 935,815. KLA Co. has a 52 week low of $453.50 and a 52 week high of $896.32. The firm has a market cap of $93.01 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The firm has a 50 day moving average price of $752.47 and a 200 day moving average price of $764.14. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s payout ratio is currently 30.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays raised their price target on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. UBS Group dropped their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, The Goldman Sachs Group lifted their target price on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $804.57.

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.