Burney Co. Has $2.91 Million Holdings in KLA Co. (NASDAQ:KLAC)

Burney Co. cut its position in KLA Co. (NASDAQ:KLAC) by 50.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,167 shares of the semiconductor company’s stock after selling 4,264 shares during the quarter. Burney Co.’s holdings in KLA were worth $2,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KLAC. United Community Bank grew its position in shares of KLA by 4.0% during the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after buying an additional 15 shares during the period. Journey Advisory Group LLC grew its position in shares of KLA by 3.2% during the 4th quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock worth $301,000 after buying an additional 16 shares during the period. Greystone Financial Group LLC grew its position in shares of KLA by 1.4% during the 1st quarter. Greystone Financial Group LLC now owns 1,173 shares of the semiconductor company’s stock worth $819,000 after buying an additional 16 shares during the period. AdvisorNet Financial Inc grew its position in shares of KLA by 29.3% during the 4th quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after buying an additional 17 shares during the period. Finally, West Paces Advisors Inc. grew its position in shares of KLA by 8.8% during the 4th quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock worth $122,000 after buying an additional 17 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Performance

NASDAQ KLAC traded down $59.97 on Friday, hitting $696.17. 2,071,281 shares of the stock were exchanged, compared to its average volume of 1,064,510. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The business’s fifty day moving average is $808.65 and its 200 day moving average is $722.79. KLA Co. has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a market capitalization of $93.73 billion, a PE ratio of 36.47, a P/E/G ratio of 1.50 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.40 earnings per share. Research analysts anticipate that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, August 15th. KLA’s payout ratio is presently 30.38%.

Insider Activity

In other news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at $11,644,493.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares in the company, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock valued at $16,831,966 over the last ninety days. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KLAC shares. Jefferies Financial Group assumed coverage on shares of KLA in a research report on Monday, May 13th. They set a “buy” rating and a $820.00 price target for the company. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of KLA in a report on Friday, April 26th. Evercore ISI boosted their price objective on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Argus boosted their price objective on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $806.24.

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.