First Trust Advisors LP Cuts Position in KLA Co. (NASDAQ:KLAC)

First Trust Advisors LP cut its holdings in shares of KLA Co. (NASDAQ:KLACFree Report) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 371,619 shares of the semiconductor company’s stock after selling 102,981 shares during the quarter. First Trust Advisors LP owned approximately 0.27% of KLA worth $216,022,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Edge Capital Group LLC increased its stake in shares of KLA by 2.7% during the 4th quarter. Edge Capital Group LLC now owns 7,926 shares of the semiconductor company’s stock worth $4,607,000 after purchasing an additional 209 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of KLA by 1.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 15,574 shares of the semiconductor company’s stock valued at $9,053,000 after buying an additional 160 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in KLA by 2.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 54,204 shares of the semiconductor company’s stock valued at $31,509,000 after acquiring an additional 1,122 shares during the period. Spinecap SAS purchased a new stake in KLA during the fourth quarter valued at about $1,744,000. Finally, NEOS Investment Management LLC raised its position in shares of KLA by 5.2% in the fourth quarter. NEOS Investment Management LLC now owns 6,539 shares of the semiconductor company’s stock valued at $3,801,000 after purchasing an additional 323 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total transaction of $803,563.02. Following the completion of the transaction, the chief financial officer now owns 31,356 shares of the company’s stock, valued at approximately $24,726,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the transaction, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at approximately $24,726,714.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ahmad A. Khan sold 7,833 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the completion of the transaction, the insider now owns 32,105 shares of the company’s stock, valued at $24,399,800. The disclosure for this sale can be found here. Insiders have sold 33,136 shares of company stock valued at $24,016,781 over the last ninety days. 0.12% of the stock is owned by insiders.

KLA Price Performance

KLAC opened at $784.97 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. KLA Co. has a 1 year low of $440.15 and a 1 year high of $791.96. The stock’s 50 day simple moving average is $713.41 and its 200 day simple moving average is $649.08. The firm has a market cap of $105.69 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 3.59 and a beta of 1.28.

KLA (NASDAQ:KLACGet Free Report) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.49 earnings per share. As a group, analysts predict that KLA Co. will post 23.3 earnings per share for the current year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.74%. KLA’s dividend payout ratio is currently 30.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI started coverage on KLA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price target for the company. TD Cowen raised their price target on KLA from $650.00 to $700.00 and gave the company a “hold” rating in a report on Friday, April 26th. Bank of America upped their price objective on shares of KLA from $740.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Finally, Susquehanna reissued a “neutral” rating and issued a $675.00 price target on shares of KLA in a report on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $733.90.

Check Out Our Latest Report on KLA

KLA 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.

See Also

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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