Bar Harbor Wealth Management Decreases Stock Position in KLA Co. (NASDAQ:KLAC)

Bar Harbor Wealth Management decreased its stake in shares of KLA Co. (NASDAQ:KLAC) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455 shares of the semiconductor company’s stock after selling 25 shares during the quarter. Bar Harbor Wealth Management’s holdings in KLA were worth $352,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB raised its holdings in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after acquiring an additional 2,019 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of KLA by 22.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock valued at $6,133,000 after purchasing an additional 1,600 shares during the last quarter. Norden Group LLC raised 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 valued at $4,589,000 after purchasing an additional 6,175 shares in the last quarter. Sei Investments Co. lifted its position in shares of KLA by 16.0% during the 1st quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after purchasing an additional 10,594 shares during the last quarter. Finally, Security National Bank grew its stake in shares of KLA by 890.8% during the first quarter. Security National Bank now owns 2,477 shares of the semiconductor company’s stock worth $1,730,000 after purchasing an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KLAC. UBS Group decreased their price target on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Evercore ISI raised their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Oppenheimer assumed coverage on shares of KLA in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $750.00 target price on the stock. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $804.57.

Insiders Place Their Bets

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the sale, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is owned by corporate insiders.

KLA Stock Performance

Shares of KLAC opened at $678.52 on Friday. The stock has a market capitalization of $91.36 billion, a P/E ratio of 35.54, a P/E/G 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 Co. has a 1 year low of $452.01 and a 1 year high of $896.32. The company’s fifty day moving average is $770.77 and its two-hundred day moving average is $763.84.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted $5.40 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that KLA Co. will post 29.13 earnings per share for the current year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

KLA Company 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.