KLA Co. (NASDAQ:KLAC) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its stake in shares of KLA Co. (NASDAQ:KLAC) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,190 shares of the semiconductor company’s stock after selling 85 shares during the period. Norway Savings Bank’s holdings in KLA were worth $1,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KLAC. Capital Market Strategies LLC grew its stake in KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC grew its position in shares of KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 13 shares in the last quarter. HBW Advisory Services LLC increased its holdings in shares of KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 14 shares during the last quarter. TIAA Trust National Association raised its position in shares of KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares in the last quarter. Finally, United Community Bank lifted its stake in KLA by 4.0% during the first quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KLAC shares. Wells Fargo & Company lowered their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Evercore ISI boosted their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $804.57.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock valued at $14,532,193 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of NASDAQ KLAC traded down $85.62 during trading on Tuesday, hitting $744.03. The company had a trading volume of 761,423 shares, compared to its average volume of 915,520. KLA Co. has a 52 week low of $452.01 and a 52 week high of $896.32. The business’s 50-day moving average is $774.25 and its 200 day moving average is $765.24. The company has a market cap of $100.18 billion, a P/E ratio of 40.35, a PEG ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15.

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, topping analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $5.40 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that KLA Co. will post 29.13 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 30.38%.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.