Newbridge Financial Services Group Inc. Grows Stake in KLA Co. (NASDAQ:KLAC)

Newbridge Financial Services Group Inc. increased its holdings in KLA Co. (NASDAQ:KLACFree Report) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,388 shares of the semiconductor company’s stock after purchasing an additional 41 shares during the period. Newbridge Financial Services Group Inc.’s holdings in KLA were worth $807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of KLA in the fourth quarter worth about $1,048,728,000. Alkeon Capital Management LLC raised its holdings in shares of KLA by 52.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock worth $530,630,000 after acquiring an additional 400,000 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after acquiring an additional 386,810 shares during the last quarter. TD Asset Management Inc boosted its position in shares of KLA by 43.4% during the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after acquiring an additional 301,848 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in KLA by 6,309.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock worth $145,410,000 after purchasing an additional 246,244 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on KLAC shares. Raymond James increased their price objective on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft assumed coverage on KLA in a research report on Thursday, April 11th. They set a “buy” rating and a $800.00 price objective on the stock. UBS Group lifted their target price on KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Wells Fargo & Company increased their price target on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday. Finally, Susquehanna restated a “neutral” rating and issued a $675.00 price target on shares of KLA in a research report on Monday, April 1st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $747.40.

View Our Latest Research Report on KLA

KLA Stock Up 0.6 %

NASDAQ:KLAC traded up $4.75 during midday trading on Tuesday, reaching $853.63. 86,469 shares of the stock traded hands, compared to its average volume of 894,756. The business has a 50-day moving average of $731.94 and a two-hundred day moving average of $664.26. The stock has a market capitalization of $114.93 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 3.95 and a beta of 1.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. KLA Co. has a 12-month low of $440.15 and a 12-month high of $856.62.

KLA (NASDAQ:KLACGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $5.49 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 14th. KLA’s payout ratio is currently 30.38%.

Insider Buying and Selling

In other news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the sale, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Bren D. Higgins sold 1,019 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the sale, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ahmad A. Khan sold 7,833 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the transaction, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The disclosure for this sale can be found here. Insiders sold 33,136 shares of company stock worth $24,016,781 in the last three months. Corporate insiders own 0.12% of the company’s stock.

KLA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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