Cigna Investments Inc. New Lowers Holdings in KLA Co. (NASDAQ:KLAC)

Cigna Investments Inc. New reduced its stake in KLA Co. (NASDAQ:KLAC) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,397 shares of the semiconductor company’s stock after selling 27 shares during the period. Cigna Investments Inc. New’s holdings in KLA were worth $1,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KLAC. Palumbo Wealth Management LLC purchased a new stake in shares of KLA during the third quarter valued at $397,000. Nikulski Financial Inc. lifted its stake in KLA by 8.0% during the 3rd quarter. Nikulski Financial Inc. now owns 528 shares of the semiconductor company’s stock valued at $409,000 after acquiring an additional 39 shares during the period. Catalyst Financial Partners LLC boosted its holdings in shares of KLA by 2.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 740 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 19 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of KLA by 3.6% in the third quarter. Financial Advocates Investment Management now owns 597 shares of the semiconductor company’s stock worth $462,000 after acquiring an additional 21 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of KLA by 27.4% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,455 shares of the semiconductor company’s stock worth $15,841,000 after acquiring an additional 4,403 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Richard P. Wallace sold 17,437 shares of KLA 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 in the company, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. 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. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KLAC. TD Cowen lowered their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research report on Thursday. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $750.00 to $850.00 in a report on Thursday. The Goldman Sachs Group increased their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Barclays cut their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Stock Down 3.7 %

KLAC opened at $666.23 on Friday. The stock has a market cap of $89.26 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 1.75 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. The firm’s fifty day moving average is $747.12 and its 200 day moving average is $762.96. KLA Co. has a fifty-two week low of $453.50 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 108.40% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the business earned $5.74 earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts forecast that KLA Co. will post 29.07 earnings per share for the current fiscal year.

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.