Bank of America Corp DE Boosts Stock Holdings in KLA Co. (NASDAQ:KLAC)

Bank of America Corp DE boosted its stake in shares of KLA Co. (NASDAQ:KLACGet Rating) by 6.6% during the first quarter, HoldingsChannel.com reports. The firm owned 1,591,823 shares of the semiconductor company’s stock after acquiring an additional 98,073 shares during the period. Bank of America Corp DE’s holdings in KLA were worth $582,702,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of KLA by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 232,068 shares of the semiconductor company’s stock valued at $84,951,000 after acquiring an additional 1,564 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of KLA by 373.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 516 shares of the semiconductor company’s stock valued at $190,000 after acquiring an additional 407 shares during the period. Castellan Group raised its stake in shares of KLA by 35.5% in the 1st quarter. Castellan Group now owns 10,027 shares of the semiconductor company’s stock valued at $3,670,000 after acquiring an additional 2,627 shares during the period. Verity Asset Management Inc. grew its holdings in KLA by 29.7% during the 1st quarter. Verity Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 142 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in KLA by 51.2% during the 1st quarter. Toroso Investments LLC now owns 5,574 shares of the semiconductor company’s stock valued at $2,040,000 after purchasing an additional 1,887 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KLAC shares. The Goldman Sachs Group lowered their price target on shares of KLA from $437.00 to $344.00 in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of KLA from $425.00 to $385.00 in a report on Monday, July 18th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Bank of America decreased their price objective on shares of KLA from $430.00 to $410.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Finally, Barclays decreased their price objective on shares of KLA from $365.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $424.16.

KLA Trading Down 0.5 %

Shares of NASDAQ:KLAC opened at $335.53 on Friday. The company has a market cap of $47.58 billion, a PE ratio of 15.32, a P/E/G ratio of 1.10 and a beta of 1.35. The company’s 50-day moving average price is $356.75 and its 200 day moving average price is $343.97. KLA Co. has a fifty-two week low of $282.83 and a fifty-two week high of $457.12. The company has a quick ratio of 1.75, a current ratio of 2.50 and a debt-to-equity ratio of 4.76.

KLA (NASDAQ:KLACGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $4.43 EPS. KLA’s quarterly revenue was up 29.2% compared to the same quarter last year. Sell-side analysts anticipate that KLA Co. will post 24.65 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from KLA’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 12th. KLA’s payout ratio is 23.74%.

KLA declared that its Board of Directors has initiated a stock buyback program on Thursday, June 16th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other KLA news, CAO Virendra A. Kirloskar sold 420 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total transaction of $161,158.20. Following the sale, the chief accounting officer now directly owns 5,651 shares in the company, valued at approximately $2,168,345.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other KLA news, CAO Virendra A. Kirloskar sold 420 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total transaction of $161,158.20. Following the sale, the chief accounting officer now directly owns 5,651 shares in the company, valued at approximately $2,168,345.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ahmad A. Khan sold 7,736 shares of KLA stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the completion of the transaction, the insider now directly owns 77,927 shares in the company, valued at approximately $28,073,981.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,761 shares of company stock worth $5,468,670. 0.16% of the stock is owned by corporate insiders.

About KLA

(Get Rating)

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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