Delphia USA Inc. boosted its position in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 16.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,716 shares of the semiconductor company’s stock after purchasing an additional 237 shares during the quarter. KLA accounts for about 0.8% of Delphia USA Inc.’s investment portfolio, making the stock its 13th biggest holding. Delphia USA Inc.’s holdings in KLA were worth $685,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the company. Resurgent Financial Advisors LLC bought a new position in KLA in the fourth quarter valued at approximately $25,000. Quarry LP lifted its stake in KLA by 118.9% in the first quarter. Quarry LP now owns 81 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 44 shares in the last quarter. First Manhattan Co. lifted its stake in KLA by 90.0% in the fourth quarter. First Manhattan Co. now owns 95 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Orion Capital Management LLC bought a new position in KLA in the first quarter valued at approximately $44,000. Finally, Colonial Trust Advisors lifted its position in shares of KLA by 185.4% in the first quarter. Colonial Trust Advisors now owns 137 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 85.49% of the company’s stock.
Analysts Set New Price Targets
KLAC has been the topic of a number of research reports. Susquehanna boosted their price objective on shares of KLA from $490.00 to $560.00 and gave the stock a “positive” rating in a research report on Friday, July 28th. TD Cowen boosted their price objective on shares of KLA from $410.00 to $535.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Needham & Company LLC downgraded shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Citigroup boosted their target price on shares of KLA from $480.00 to $570.00 in a report on Monday, July 31st. Finally, StockNews.com began coverage on shares of KLA in a report on Thursday, August 17th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $455.50.
Insider Buying and Selling
In related news, CEO Richard P. Wallace sold 35,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were 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 owns 124,045 shares of the company’s stock, valued at $62,528,603.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Virendra A. Kirloskar sold 2,621 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 3,699 shares of the company’s stock, valued at $1,755,360.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard P. Wallace sold 35,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 124,045 shares of the company’s stock, valued at approximately $62,528,603.60. The disclosure for this sale can be found here. Insiders sold 43,986 shares of company stock valued at $22,071,950 over the last quarter. 0.15% of the stock is owned by company insiders.
KLA Stock Performance
Shares of NASDAQ:KLAC traded down $10.69 on Monday, hitting $487.04. The company had a trading volume of 364,616 shares, compared to its average volume of 1,060,070. 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 stock has a 50 day moving average price of $485.62 and a 200 day moving average price of $435.06. KLA Co. has a 1-year low of $250.20 and a 1-year high of $520.19. The stock has a market cap of $66.59 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.38 and a beta of 1.35.
KLA (NASDAQ:KLAC – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $5.40 EPS for the quarter, beating the consensus estimate of $4.82 by $0.58. KLA had a net margin of 32.27% and a return on equity of 138.06%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company posted $5.81 earnings per share. KLA’s revenue was down 5.3% compared to the same quarter last year. Analysts expect that KLA Co. will post 22.11 EPS for the current year.
KLA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a dividend of $1.30 per share. The ex-dividend date was Monday, August 14th. This represents a $5.20 annualized dividend and a yield of 1.07%. KLA’s dividend payout ratio is 21.59%.
KLA declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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.
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