AXS Investments LLC Sells 374 Shares of KLA Co. (NASDAQ:KLAC)

AXS Investments LLC lowered its position in shares of KLA Co. (NASDAQ:KLACFree Report) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,610 shares of the semiconductor company’s stock after selling 374 shares during the quarter. AXS Investments LLC’s holdings in KLA were worth $1,266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Capital Management Inc bought a new position in shares of KLA during the 2nd quarter worth about $26,000. Resurgent Financial Advisors LLC bought a new position in KLA in the 4th quarter valued at about $25,000. Quarry LP lifted its position in KLA by 118.9% in the 1st quarter. Quarry LP now owns 81 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 44 shares in the last quarter. Activest Wealth Management bought a new position in KLA in the 2nd quarter valued at about $40,000. Finally, First Manhattan Co. lifted its position in KLA by 90.0% in the 4th quarter. First Manhattan Co. now owns 95 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 85.49% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mary Beth Wilkinson sold 3,155 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $451.51, for a total value of $1,424,514.05. Following the completion of the transaction, the executive vice president now directly owns 6,794 shares of the company’s stock, valued at approximately $3,067,558.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other KLA news, Director Jeneanne Michelle Hanley sold 500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $508.97, for a total value of $254,485.00. Following the completion of the transaction, the director now directly owns 3,054 shares of the company’s stock, valued at approximately $1,554,394.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 3,155 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $451.51, for a total transaction of $1,424,514.05. Following the completion of the transaction, the executive vice president now directly owns 6,794 shares of the company’s stock, valued at $3,067,558.94. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

KLA Stock Performance

Shares of KLAC stock traded down $0.85 during trading hours on Friday, hitting $544.54. 1,315,624 shares of the company were exchanged, compared to its average volume of 1,046,780. The firm has a fifty day simple moving average of $479.70 and a 200 day simple moving average of $469.26. The company has a current ratio of 2.21, a quick ratio of 1.42 and a debt-to-equity ratio of 1.97. KLA Co. has a 52-week low of $355.88 and a 52-week high of $550.67. The stock has a market capitalization of $74.02 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.35 and a beta of 1.34.

KLA (NASDAQ:KLACGet Free Report) last released its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $5.74 EPS for the quarter, topping the consensus estimate of $5.39 by $0.35. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. KLA had a net margin of 30.51% and a return on equity of 119.24%. Research analysts predict that KLA Co. will post 23.34 earnings per share for the current fiscal year.

KLA announced that its board has initiated a share repurchase program on Tuesday, September 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from KLA’s previous quarterly dividend of $1.30. This represents a $5.80 annualized dividend and a yield of 1.07%. KLA’s dividend payout ratio (DPR) is 26.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KLAC shares. Wells Fargo & Company raised their price target on shares of KLA from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. raised their price target on shares of KLA from $445.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. UBS Group increased their price objective on shares of KLA from $475.00 to $480.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Barclays increased their price objective on shares of KLA from $400.00 to $425.00 and gave the company an “underweight” rating in a research note on Friday, July 28th. Finally, TD Cowen increased their price objective on shares of KLA from $410.00 to $535.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, KLA has an average rating of “Hold” and a consensus price target of $507.24.

View Our Latest Analysis on KLAC

KLA Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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