1,025 Shares in KLA Co. (NASDAQ:KLAC) Acquired by Palisade Capital Management LLC NJ

Palisade Capital Management LLC NJ acquired a new stake in KLA Co. (NASDAQ:KLACGet Rating) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,025 shares of the semiconductor company’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KLAC. Delos Wealth Advisors LLC lifted its position in KLA by 154.3% in the 4th quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 54 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of KLA by 173.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 59 shares during the period. Centerpoint Advisors LLC bought a new position in shares of KLA during the 1st quarter valued at $43,000. DeDora Capital Inc. bought a new position in shares of KLA during the 1st quarter valued at $55,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its holdings in shares of KLA by 36.4% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 150 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 40 shares during the period. 87.13% of the stock is owned by institutional investors.

Insider Activity at KLA

In related news, CAO Virendra A. Kirloskar sold 420 shares of KLA stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total transaction of $161,158.20. Following the transaction, the chief accounting officer now directly owns 5,651 shares of the company’s stock, valued at $2,168,345.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Virendra A. Kirloskar sold 420 shares of KLA stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total transaction of $161,158.20. Following the transaction, the chief accounting officer now directly owns 5,651 shares of the company’s stock, valued at $2,168,345.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,020 shares of KLA stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total transaction of $343,760.40. Following the completion of the transaction, the chief financial officer now directly owns 64,257 shares in the company, valued at $21,655,894.14. The disclosure for this sale can be found here. Insiders have sold a total of 7,303 shares of company stock valued at $2,739,490 over the last ninety days. 0.16% of the stock is owned by company insiders.

KLA Stock Down 0.4 %

Shares of NASDAQ KLAC opened at $395.74 on Friday. The company has a debt-to-equity ratio of 4.76, a current ratio of 2.50 and a quick ratio of 1.75. The company has a market cap of $59.06 billion, a P/E ratio of 18.07, a PEG ratio of 1.28 and a beta of 1.33. KLA Co. has a 1 year low of $282.83 and a 1 year high of $457.12. The firm has a 50-day simple moving average of $340.45 and a two-hundred day simple moving average of $347.09.

KLA (NASDAQ:KLACGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the firm earned $4.43 earnings per share. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. Research analysts anticipate that KLA Co. will post 24.83 earnings per share for the current year.

KLA announced that its board has approved a stock buyback program on Thursday, June 16th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, August 12th. This is an increase from KLA’s previous quarterly dividend of $1.05. KLA’s payout ratio is currently 19.18%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on KLA from $425.00 to $385.00 in a research note on Monday, July 18th. Bank of America reduced their price objective on KLA from $430.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Wells Fargo & Company reduced their price objective on KLA from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Finally, Barclays reduced their price objective on KLA from $365.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.16.

KLA Profile

(Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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