Diversified Trust Co Cuts Holdings in KLA Co. (NASDAQ:KLAC)

Diversified Trust Co decreased its position in KLA Co. (NASDAQ:KLACGet Rating) by 15.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,752 shares of the semiconductor company’s stock after selling 321 shares during the period. Diversified Trust Co’s holdings in KLA were worth $559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of KLA by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,554,919 shares of the semiconductor company’s stock worth $4,961,914,000 after purchasing an additional 44,929 shares in the last quarter. BlackRock Inc. increased its stake in shares of KLA by 2.4% during the first quarter. BlackRock Inc. now owns 11,598,754 shares of the semiconductor company’s stock worth $4,245,843,000 after purchasing an additional 274,070 shares in the last quarter. Capital International Investors increased its stake in shares of KLA by 0.8% during the fourth quarter. Capital International Investors now owns 7,531,100 shares of the semiconductor company’s stock worth $3,238,787,000 after purchasing an additional 63,037 shares in the last quarter. State Street Corp increased its stake in shares of KLA by 1.8% during the fourth quarter. State Street Corp now owns 6,315,958 shares of the semiconductor company’s stock worth $2,716,557,000 after purchasing an additional 113,477 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of KLA by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,074,884 shares of the semiconductor company’s stock worth $759,532,000 after purchasing an additional 385,420 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Oreste Donzella sold 96 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $320.00, for a total transaction of $30,720.00. Following the sale, the executive vice president now directly owns 35,442 shares of the company’s stock, valued at approximately $11,341,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other KLA news, CAO Virendra A. Kirloskar sold 420 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total value of $161,158.20. Following the sale, the chief accounting officer now directly owns 5,651 shares of the company’s stock, valued at approximately $2,168,345.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Oreste Donzella sold 96 shares of the stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $320.00, for a total transaction of $30,720.00. Following the completion of the sale, the executive vice president now directly owns 35,442 shares in the company, valued at $11,341,440. The disclosure for this sale can be found here. Insiders have sold a total of 14,761 shares of company stock valued at $5,468,670 in the last ninety days. Company insiders own 0.14% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock opened at $322.86 on Thursday. The firm’s 50 day moving average price is $357.49 and its 200-day moving average price is $343.90. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.75 and a current ratio of 2.50. KLA Co. has a one year low of $282.83 and a one year high of $457.12. The firm has a market cap of $45.78 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.09 and a beta of 1.35.

KLA (NASDAQ:KLACGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, topping 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 analyst estimates of $2.42 billion. During the same period in the prior year, the business posted $4.43 EPS. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities research analysts predict that KLA Co. will post 24.65 EPS for the current year.

KLA announced that its Board of Directors has approved a share buyback plan on Thursday, June 16th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a dividend of $1.30 per share. This is an increase from KLA’s previous quarterly dividend of $1.05. This represents a $5.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 12th. KLA’s dividend payout ratio is presently 23.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KLAC. KeyCorp boosted their target price on shares of KLA from $375.00 to $410.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. UBS Group lowered their price target on shares of KLA from $360.00 to $345.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of KLA from $425.00 to $385.00 in a research report on Monday, July 18th. Morgan Stanley lowered their price target on shares of KLA from $381.00 to $358.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 6th. Finally, Wells Fargo & Company lowered their price target on shares of KLA from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Six investment 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $424.16.

About KLA

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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.

Further Reading

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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