Assenagon Asset Management S.A. Increases Stake in KLA Co. (NASDAQ:KLAC)

Assenagon Asset Management S.A. increased its holdings in KLA Co. (NASDAQ:KLAC) by 6,188.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 239,404 shares of the semiconductor company’s stock after purchasing an additional 235,597 shares during the period. Assenagon Asset Management S.A.’s holdings in KLA were worth $185,397,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. Family Firm Inc. purchased a new stake in KLA during the 2nd quarter valued at $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of KLA in the 2nd quarter worth about $44,000. LRI Investments LLC purchased a new stake in shares of KLA in the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC purchased a new stake in shares of KLA in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Price Performance

Shares of KLAC traded up $5.82 during mid-day trading on Thursday, reaching $670.45. The stock had a trading volume of 332,710 shares, compared to its average volume of 934,046. KLA Co. has a 12 month low of $452.01 and a 12 month high of $896.32. The business has a fifty day moving average of $764.03 and a 200 day moving average of $764.02. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm has a market cap of $90.27 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $5.40 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that KLA Co. will post 29.13 EPS for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s payout ratio is 30.38%.

Analyst Ratings Changes

KLAC has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Susquehanna decreased their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. TD Cowen increased their price target on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price target 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. Finally, UBS Group decreased their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $804.57.

Insider Activity at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the company’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 sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents 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 90 days. 0.12% of the stock is owned by corporate insiders.

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.