Mirae Asset Global Investments Co. Ltd. Boosts Holdings in KLA Co. (NASDAQ:KLAC)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KLA Co. (NASDAQ:KLAC) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,078 shares of the semiconductor company’s stock after buying an additional 5,890 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in KLA were worth $97,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in KLAC. Family Firm Inc. purchased a new stake in shares of KLA during the second quarter worth $30,000. Cedar Wealth Management LLC raised its position in 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. 1620 Investment Advisors Inc. acquired a new stake in KLA in the 2nd quarter valued at about $44,000. LRI Investments LLC acquired a new position in shares of KLA during the first quarter worth about $46,000. Finally, Olistico Wealth LLC acquired a new position in shares of KLA during the second quarter worth about $53,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

NASDAQ KLAC opened at $673.07 on Friday. The firm has a market cap of $90.18 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. 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 price is $757.70 and its 200 day moving average price is $763.21. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.52 billion. During the same quarter in the previous year, the company posted $5.40 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that KLA Co. will post 29.07 earnings per share for the current year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.86%. KLA’s payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

KLAC has been the subject of several analyst reports. TD Cowen boosted their price target on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Argus raised their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group upped their price objective on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays increased their price objective on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, KLA currently has an average rating of “Moderate Buy” and a consensus target price of $804.57.

About KLA

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.