Pitcairn Co. Sells 1,006 Shares of KLA Co. (NASDAQ:KLAC)

Pitcairn Co. decreased its stake in shares of KLA Co. (NASDAQ:KLACFree Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,925 shares of the semiconductor company’s stock after selling 1,006 shares during the quarter. Pitcairn Co.’s holdings in KLA were worth $4,026,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KLAC. Norges Bank bought a new stake in shares of KLA in the 4th quarter valued at about $1,048,728,000. Alkeon Capital Management LLC raised its holdings in shares of KLA by 52.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after purchasing an additional 400,000 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of KLA by 43.4% in the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of KLA by 6,309.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock valued at $145,410,000 after purchasing an additional 246,244 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of KLA in the 4th quarter valued at about $132,189,000. Institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock traded up $29.75 during trading hours on Wednesday, hitting $827.91. The company’s stock had a trading volume of 333,028 shares, compared to its average volume of 905,900. The company has a 50 day moving average of $720.18 and a 200 day moving average of $656.24. The stock has a market cap of $111.47 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 3.80 and a beta of 1.28. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. KLA Co. has a 12-month low of $440.15 and a 12-month high of $830.86.

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

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KLAC shares. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Citigroup boosted their price objective on shares of KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Raymond James boosted their price objective on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Susquehanna reiterated a “neutral” rating and set a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. Finally, Jefferies Financial Group initiated coverage on shares of KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 price objective for the company. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $740.15.

Read Our Latest Analysis on KLAC

Insider Buying and Selling

In related news, insider Ahmad A. Khan sold 7,833 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the sale, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 31,356 shares in the company, valued at $24,726,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ahmad A. Khan sold 7,833 shares of the company’s stock in a transaction 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 owns 32,105 shares of the company’s stock, valued at $24,399,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,136 shares of company stock valued at $24,016,781. 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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