Oppenheimer & Co. Inc. Has $7.68 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Oppenheimer & Co. Inc. lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,310 shares of the semiconductor company’s stock after selling 1,319 shares during the period. Oppenheimer & Co. Inc.’s holdings in KLA were worth $7,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. APG Asset Management US Inc. bought a new position in KLA in the fourth quarter worth approximately $15,781,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of KLA during the fourth quarter worth approximately $1,050,000. New Mexico Educational Retirement Board raised its position in shares of KLA by 22.3% during the first quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock worth $6,133,000 after purchasing an additional 1,600 shares during the period. Norden Group LLC lifted its holdings in shares of KLA by 1,579.3% in the 1st quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after purchasing an additional 6,175 shares in the last quarter. Finally, Objective Capital Management LLC acquired a new stake in KLA in the 4th quarter valued at $213,000. Institutional investors own 86.65% of the company’s stock.

Insider Activity

In related news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Lorig sold 44 shares of KLA stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold a total of 20,917 shares of company stock valued at $14,568,247 over the last quarter. Company insiders own 0.12% of the company’s stock.

KLA Trading Up 2.5 %

NASDAQ:KLAC opened at $751.50 on Friday. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The firm’s 50 day moving average is $785.10 and its 200 day moving average is $752.79. The stock has a market capitalization of $101.18 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $5.40 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.77%. KLA’s payout ratio is 30.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Citigroup decreased their price objective on KLA from $990.00 to $960.00 and set a “buy” rating for the company in a report on Monday, August 5th. Raymond James raised their target price on KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $950.00 price target on shares of KLA in a report on Thursday, July 25th. Finally, Argus raised their price objective on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $805.52.

KLA 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.