PKO Investment Management Joint Stock Co Sells 3,000 Shares of KLA Co. (NASDAQ:KLAC)

PKO Investment Management Joint Stock Co trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,500 shares of the semiconductor company’s stock after selling 3,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in KLA were worth $3,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Berkshire Bank boosted its stake in shares of KLA by 10.8% during the 1st quarter. Berkshire Bank now owns 544 shares of the semiconductor company’s stock worth $370,000 after purchasing an additional 53 shares during the period. Inscription Capital LLC bought a new stake in KLA in the first quarter worth about $772,000. Grove Bank & Trust boosted its position in shares of KLA by 15.6% during the first quarter. Grove Bank & Trust now owns 695 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 94 shares during the period. Sagespring Wealth Partners LLC grew its stake in shares of KLA by 54.9% during the first quarter. Sagespring Wealth Partners LLC now owns 1,273 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 451 shares during the last quarter. Finally, Great Lakes Retirement Inc. raised its holdings in shares of KLA by 0.4% in the first quarter. Great Lakes Retirement Inc. now owns 4,540 shares of the semiconductor company’s stock worth $3,086,000 after buying an additional 18 shares during the period. Institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on KLAC. UBS Group boosted their price objective on KLA from $690.00 to $740.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $800.00 target price on shares of KLA in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of KLA from $950.00 to $900.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Barclays decreased their price objective on shares of KLA from $760.00 to $590.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen upped their target price on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $795.39.

KLA Trading Up 2.8%

Shares of NASDAQ:KLAC opened at $892.38 on Tuesday. The business’s 50-day moving average is $740.39 and its 200 day moving average is $710.94. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The firm has a market capitalization of $118.01 billion, a P/E ratio of 37.53, a P/E/G ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping analysts’ consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The company’s revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.26 earnings per share. On average, research analysts predict that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This is a positive change from KLA’s previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.85%. KLA’s payout ratio is 27.63%.

KLA announced that its board has initiated a stock repurchase program on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at KLA

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,829 shares of company stock valued at $13,240,166 in the last ninety days. Company insiders own 0.12% of the company’s stock.

KLA Company Profile

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.