Rehmann Capital Advisory Group decreased its stake in KLA Co. (NASDAQ:KLAC – Get Rating) by 8.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 570 shares of the semiconductor company’s stock after selling 56 shares during the period. Rehmann Capital Advisory Group’s holdings in KLA were worth $209,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of KLAC. Delos Wealth Advisors LLC boosted its holdings in shares of KLA by 154.3% in the 4th quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 54 shares in the last quarter. Centerpoint Advisors LLC purchased a new stake in KLA in the 1st quarter valued at $43,000. DeDora Capital Inc. purchased a new stake in KLA in the 1st quarter valued at $55,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its position in KLA by 36.4% in the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 150 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 40 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in KLA by 66.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 155 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on KLAC. UBS Group reduced their price target 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. Barclays reduced their price target on shares of KLA from $365.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. Piper Sandler reduced their price target on shares of KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Evercore ISI set a $425.00 price objective on shares of KLA in a research report on Monday, June 20th. Finally, StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and an average price target of $424.16.
Insider Activity at KLA
KLA Price Performance
Shares of NASDAQ KLAC opened at $335.53 on Friday. The stock has a market cap of $47.58 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.10 and a beta of 1.35. KLA Co. has a 52 week low of $282.83 and a 52 week high of $457.12. The company’s 50-day moving average price is $356.75 and its 200 day moving average price is $343.97. The company has a current ratio of 2.50, a quick ratio of 1.75 and a debt-to-equity ratio of 4.76.
KLA (NASDAQ:KLAC – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. KLA had a net margin of 36.06% and a return on equity of 95.80%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.43 EPS. As a group, research analysts forecast that KLA Co. will post 24.65 earnings per share for the current fiscal year.
KLA Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.55%. This is a boost from KLA’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 12th. KLA’s dividend payout ratio is presently 23.74%.
KLA announced that its board has initiated a stock buyback program on Thursday, June 16th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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.
- Get a free copy of the StockNews.com research report on KLA (KLAC)
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