Brookstone Capital Management Acquires 612 Shares of KLA Co. (NASDAQ:KLAC)

Brookstone Capital Management raised its holdings in KLA Co. (NASDAQ:KLACGet Rating) by 35.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,353 shares of the semiconductor company’s stock after buying an additional 612 shares during the quarter. Brookstone Capital Management’s holdings in KLA were worth $746,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC lifted its stake in shares of KLA by 154.3% in the fourth 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 bought a new position in shares of KLA during the first quarter valued at about $43,000. Vigilant Capital Management LLC bought a new position in shares of KLA during the second quarter valued at about $52,000. DeDora Capital Inc. bought a new position in shares of KLA during the first quarter valued at about $55,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its position in shares of KLA by 36.4% during the first 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 in the last quarter. 90.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ahmad A. Khan sold 7,736 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total value of $2,786,971.36. Following the completion of the sale, the insider now directly owns 77,927 shares in the company, valued at approximately $28,073,981.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Ahmad A. Khan sold 7,736 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total value of $2,786,971.36. Following the completion of the sale, the insider now directly owns 77,927 shares in the company, valued at approximately $28,073,981.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Virendra A. Kirloskar sold 325 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $390.85, for a total transaction of $127,026.25. Following the completion of the sale, the chief accounting officer now owns 5,291 shares of the company’s stock, valued at $2,067,987.35. The disclosure for this sale can be found here. Insiders sold a total of 14,761 shares of company stock valued at $5,468,670 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $313.07 on Friday. The company has a 50 day moving average of $357.57 and a 200 day moving average of $343.74. The stock has a market cap of $44.39 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.07 and a beta of 1.35. KLA Co. has a 12 month low of $282.83 and a 12 month high of $457.12. 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:KLACGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.46 by $0.35. The company had revenue of $2.49 billion during 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%. KLA’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.43 earnings per share. As a group, sell-side analysts forecast that KLA Co. will post 24.65 EPS for the current fiscal year.

KLA announced that its board has approved a share buyback plan on Thursday, June 16th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, August 12th. This is a boost from KLA’s previous quarterly dividend of $1.05. KLA’s payout ratio is currently 23.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America dropped their price target on shares of KLA from $430.00 to $410.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of KLA from $425.00 to $385.00 in a research report on Monday, July 18th. Evercore ISI set a $425.00 price target on shares of KLA in a research report on Monday, June 20th. Barclays lowered their price objective on shares of KLA from $365.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. Finally, KeyCorp lifted their price objective on shares of KLA from $375.00 to $410.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average price target of $424.16.

KLA Profile

(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.

Further Reading

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Co. (NASDAQ:KLACGet Rating).

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

Receive News & Ratings for KLA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA and related companies with MarketBeat.com's FREE daily email newsletter.