Formuepleje A S reduced its position in shares of KLA Corporation (NASDAQ:KLAC – Free Report) by 32.9% during the third quarter, HoldingsChannel reports. The firm owned 20,159 shares of the semiconductor company’s stock after selling 9,903 shares during the quarter. Formuepleje A S’s holdings in KLA were worth $3,930,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in KLA by 36.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $88,000 after buying an additional 16 shares during the period. Allied Private Wealth LLC acquired a new position in KLA in the 2nd quarter worth $27,000. McIlrath & Eck LLC boosted its position in KLA by 6.8% in the 1st quarter. McIlrath & Eck LLC now owns 94 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 6 shares during the last quarter. Roble Belko & Company Inc boosted its position in KLA by 2,275.0% in the 2nd quarter. Roble Belko & Company Inc now owns 95 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 91 shares during the last quarter. Finally, Atomic Invest LLC boosted its position in KLA by 781.8% in the 2nd quarter. Atomic Invest LLC now owns 97 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.
KLA Stock Down 3.4%
NASDAQ KLAC traded down $6.09 during trading hours on Thursday, reaching $172.72. 6,095,749 shares of the company traded hands, compared to its average volume of 11,047,925. The stock has a market capitalization of $225.40 billion, a PE ratio of 46.94, a PEG ratio of 1.63 and a beta of 1.45. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93. KLA Corporation has a 12 month low of $107.20 and a 12 month high of $307.37. The company has a 50 day moving average of $187.68 and a two-hundred day moving average of $196.64.
KLA Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. This is a positive change from KLA’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, August 17th. KLA’s payout ratio is 25.07%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on KLAC shares. Morgan Stanley set a $227.00 target price on KLA and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. TD Cowen reissued a “buy” rating and issued a $260.00 price target (up from $200.00) on shares of KLA in a report on Thursday, July 9th. UBS Group reduced their price target on KLA from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Barclays restated an “overweight” rating and set a $225.00 price objective on shares of KLA in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $195.00 price objective (down from $220.00) on shares of KLA in a report on Wednesday, July 29th. Eighteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.26.
Get Our Latest Analysis on KLA
Insider Transactions at KLA
In related news, EVP Brian Lorig sold 59,586 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $208.13, for a total value of $12,401,634.18. Following the completion of the sale, the executive vice president directly owned 77,681 shares of the company’s stock, valued at $16,167,746.53. The trade was a 43.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Wallace sold 72,019 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total value of $12,378,625.72. Following the sale, the chief executive officer owned 706,925 shares in the company, valued at $121,506,269. The trade was a 9.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 243,339 shares of company stock valued at $46,903,454 in the last three months. Corporate insiders own 79.39% of the company’s stock.
KLA Company Profile
KLA Corporation (NASDAQ: KLAC) develops process-control and yield-management solutions used by semiconductor and electronics manufacturers. Its systems help customers detect defects, measure and analyze materials and structures, and monitor manufacturing processes throughout the production of integrated circuits and other advanced electronic components.
The company’s product portfolio includes inspection and metrology systems, wafer and reticle inspection equipment, process-control software, data analytics tools, and related services.
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