China Universal Asset Management Co. Ltd. Purchases 995 Shares of KLA Co. (NASDAQ:KLAC)

China Universal Asset Management Co. Ltd. raised its position in KLA Co. (NASDAQ:KLAC) by 11.9% in the 3rd quarter, Holdings Channel reports. The firm owned 9,385 shares of the semiconductor company’s stock after buying an additional 995 shares during the period. KLA accounts for approximately 0.8% of China Universal Asset Management Co. Ltd.’s investment portfolio, making the stock its 23rd biggest holding. China Universal Asset Management Co. Ltd.’s holdings in KLA were worth $7,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC raised its stake in 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. Family Firm Inc. bought a new stake in shares of KLA in the second quarter worth about $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA during the second quarter worth about $44,000. LRI Investments LLC bought a new position in shares of KLA during the 1st quarter valued at about $45,000. Finally, Olistico Wealth LLC acquired a new position in shares of KLA in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI raised their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen raised their price objective on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. UBS Group reduced their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays increased their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Oppenheimer assumed coverage on KLA in a report on Wednesday, September 25th. They issued a “market perform” rating and a $750.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

KLA Stock Performance

Shares of KLAC stock opened at $674.35 on Tuesday. The company has a fifty day moving average price of $754.78 and a two-hundred day moving average price of $764.03. KLA Co. has a one year low of $452.03 and a one year high of $896.32. The stock has a market cap 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 company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.86%. KLA’s dividend payout ratio (DPR) 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 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 owns 105,329 shares in the company, valued at $74,257,998.29. This 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 at this link. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,873 shares of company stock worth $14,532,193. Company 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.