KLA Co. (NASDAQ:KLAC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of KLA Co. (NASDAQ:KLAC) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,975 shares of the semiconductor company’s stock after selling 3,200 shares during the quarter. State of Alaska Department of Revenue’s holdings in KLA were worth $17,790,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of KLAC. Capital Advisors Ltd. LLC grew its stake in KLA by 31.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 305 shares of the semiconductor company’s stock valued at $236,000 after acquiring an additional 73 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of KLA by 53.4% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,355 shares of the semiconductor company’s stock worth $1,824,000 after purchasing an additional 820 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of KLA by 7.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 317,420 shares of the semiconductor company’s stock valued at $246,447,000 after purchasing an additional 23,029 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of KLA by 0.5% in the third quarter. Forsta AP Fonden now owns 38,100 shares of the semiconductor company’s stock valued at $29,505,000 after purchasing an additional 200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in KLA by 4.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,078 shares of the semiconductor company’s stock worth $97,861,000 after buying an additional 5,890 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Trading Up 1.0 %

NASDAQ:KLAC opened at $673.07 on Friday. The stock has a fifty day moving average price of $757.70 and a 200 day moving average price of $763.21. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. KLA Co. has a 12-month low of $452.01 and a 12-month high of $896.32. The firm has a market cap of $90.18 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.40 earnings per share. Sell-side analysts anticipate that KLA Co. will post 29.07 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling at KLA

In related 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 in the company, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other KLA 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 transaction 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. This trade 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 can be accessed through this link. Also, 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 completion of the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,873 shares of company stock valued at $14,532,193. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KLAC shares. Susquehanna cut their target price on KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company cut 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. UBS Group dropped 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. TD Cowen lifted their price target on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Oppenheimer began coverage on KLA in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $750.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.