Prospera Financial Services Inc Purchases Shares of 349 KLA Co. (NASDAQ:KLAC)

Prospera Financial Services Inc purchased a new stake in shares of KLA Co. (NASDAQ:KLACGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 349 shares of the semiconductor company’s stock, valued at approximately $128,000.

Other hedge funds have also modified their holdings of the company. Mutual Advisors LLC raised its position in shares of KLA by 1.3% in the 4th quarter. Mutual Advisors LLC now owns 2,085 shares of the semiconductor company’s stock valued at $897,000 after purchasing an additional 27 shares during the last quarter. Clarius Group LLC raised its position in shares of KLA by 1.5% in the 4th quarter. Clarius Group LLC now owns 1,835 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 28 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in shares of KLA by 21.8% in the 4th quarter. Prestige Wealth Management Group LLC now owns 162 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 29 shares during the last quarter. Balasa Dinverno & Foltz LLC raised its position in shares of KLA by 3.9% in the 1st quarter. Balasa Dinverno & Foltz LLC now owns 835 shares of the semiconductor company’s stock valued at $306,000 after purchasing an additional 31 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of KLA by 32.7% in the 4th quarter. Larson Financial Group LLC now owns 130 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 32 shares during the last quarter. 87.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 420 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $383.71, for a total value of $161,158.20. Following the transaction, the chief accounting officer now owns 5,651 shares in the company, valued at approximately $2,168,345.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, EVP Oreste Donzella sold 96 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $320.00, for a total value of $30,720.00. Following the transaction, the executive vice president now owns 35,442 shares in the company, valued at approximately $11,341,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Virendra A. Kirloskar sold 420 shares of KLA stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $383.71, for a total value of $161,158.20. Following the transaction, the chief accounting officer now owns 5,651 shares in the company, valued at approximately $2,168,345.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,303 shares of company stock worth $2,739,490. Corporate insiders own 0.16% of the company’s stock.

KLA Trading Down 0.4 %

Shares of NASDAQ:KLAC opened at $395.74 on Friday. KLA Co. has a 1 year low of $282.83 and a 1 year high of $457.12. The firm has a market capitalization of $59.06 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33. The company has a debt-to-equity ratio of 4.76, a current ratio of 2.50 and a quick ratio of 1.75. The business’s 50 day moving average price is $340.45 and its 200-day moving average price is $347.09.

KLA (NASDAQ:KLACGet Rating) last announced its earnings results on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. KLA had a return on equity of 95.80% and a net margin of 36.06%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm posted $4.43 EPS. The business’s revenue was up 29.2% on a year-over-year basis. On average, equities research analysts forecast that KLA Co. will post 24.83 earnings per share for the current fiscal year.

KLA declared that its board has approved a stock repurchase program on Thursday, June 16th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 12.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.31%. This is a positive change from KLA’s previous quarterly dividend of $1.05. KLA’s dividend payout ratio (DPR) is presently 19.18%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KLAC shares. UBS Group decreased their price objective on shares of KLA from $360.00 to $345.00 and set a “neutral” rating for the company in a research report on Tuesday, June 28th. Wells Fargo & Company cut their price target on shares of KLA from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 15th. The Goldman Sachs Group cut their price target on shares of KLA from $437.00 to $344.00 in a report on Friday, July 15th. Piper Sandler cut their price target on shares of KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of KLA from $425.00 to $385.00 in a report on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $425.16.

About KLA

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KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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