Edgestream Partners L.P. Purchases 6,722 Shares of KLA Co. (NASDAQ:KLAC)

Edgestream Partners L.P. grew its position in shares of KLA Co. (NASDAQ:KLAC) by 422.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,313 shares of the semiconductor company’s stock after buying an additional 6,722 shares during the quarter. Edgestream Partners L.P.’s holdings in KLA were worth $6,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in KLA during the fourth quarter worth $26,000. Cedar Wealth Management LLC grew its stake 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 during the period. DSM Capital Partners LLC purchased a new stake in shares of KLA during the 4th quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of KLA during the 2nd quarter worth $30,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction 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 directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock worth $14,568,247 in the last ninety days. 0.12% of the stock is currently owned by insiders.

KLA Price Performance

KLAC stock opened at $736.40 on Tuesday. The firm has a 50 day moving average of $782.50 and a 200-day moving average of $754.26. The firm has a market capitalization of $99.15 billion, a P/E ratio of 38.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32. 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 (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $5.40 EPS. As a group, sell-side analysts predict that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 30.38%.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. UBS Group dropped their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group upped their price target on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $812.80.

KLA Company Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.