Norinchukin Bank The Grows Stock Holdings in KLA Co. (NASDAQ:KLAC)

Norinchukin Bank The boosted its position in KLA Co. (NASDAQ:KLAC) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,323 shares of the semiconductor company’s stock after acquiring an additional 83 shares during the period. Norinchukin Bank The’s holdings in KLA were worth $4,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resurgent Financial Advisors LLC purchased a new stake in KLA in the 4th quarter worth approximately $25,000. First Manhattan Co. grew its stake in KLA by 90.0% in the 4th quarter. First Manhattan Co. now owns 95 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Orion Capital Management LLC purchased a new stake in KLA in the 1st quarter worth approximately $44,000. Colonial Trust Advisors boosted its holdings in shares of KLA by 185.4% in the 1st quarter. Colonial Trust Advisors now owns 137 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 89 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of KLA in the 4th quarter valued at $58,000. 85.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KLA

In other news, CEO Richard P. Wallace sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $504.08, for a total value of $17,642,800.00. Following the completion of the sale, the chief executive officer now directly owns 124,045 shares of the company’s stock, valued at approximately $62,528,603.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Virendra A. Kirloskar sold 2,621 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $474.55, for a total value of $1,243,795.55. Following the completion of the sale, the chief accounting officer now directly owns 3,699 shares of the company’s stock, valued at approximately $1,755,360.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $504.08, for a total transaction of $17,642,800.00. Following the completion of the sale, the chief executive officer now directly owns 124,045 shares of the company’s stock, valued at $62,528,603.60. The disclosure for this sale can be found here. Insiders sold 43,486 shares of company stock valued at $21,817,465 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KLAC shares. Stifel Nicolaus lifted their price target on shares of KLA from $450.00 to $535.00 and gave the company a “buy” rating in a report on Friday, July 28th. Wells Fargo & Company lifted their price target on shares of KLA from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Barclays lifted their price target on shares of KLA from $400.00 to $425.00 and gave the company an “underweight” rating in a report on Friday, July 28th. Needham & Company LLC lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Susquehanna lifted their price target on shares of KLA from $490.00 to $560.00 and gave the company a “positive” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, KLA currently has a consensus rating of “Hold” and a consensus target price of $455.50.

KLA Stock Performance

KLA stock traded up $5.15 during midday trading on Friday, reaching $507.02. 657,206 shares of the stock traded hands, compared to its average volume of 1,067,969. The company has a current ratio of 2.24, a quick ratio of 1.47 and a debt-to-equity ratio of 2.02. The firm has a fifty day moving average price of $482.50 and a two-hundred day moving average price of $430.43. The firm has a market cap of $69.32 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.33 and a beta of 1.34. KLA Co. has a fifty-two week low of $250.20 and a fifty-two week high of $517.30.

KLA (NASDAQ:KLAC) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.58. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.26 billion. KLA had a net margin of 32.27% and a return on equity of 138.06%. KLA’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.81 EPS. On average, equities research analysts forecast that KLA Co. will post 22.11 earnings per share for the current year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, August 14th. KLA’s payout ratio is 21.59%.

KLA Company Profile

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 three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.