Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in KLA Co. (NASDAQ:KLAC)

Mitsubishi UFJ Trust & Banking Corp decreased its position in KLA Co. (NASDAQ:KLAC) by 27.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 126,709 shares of the semiconductor company’s stock after selling 48,652 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in KLA were worth $89,125,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in KLA during the fourth quarter worth about $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of KLA during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of KLA in the 4th quarter worth approximately $28,000. Addison Advisors LLC purchased a new position in KLA in the fourth quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp grew its holdings in KLA by 2,033.3% during the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 61 shares during the period. 86.65% of the stock is owned by institutional investors.

KLA Price Performance

Shares of NASDAQ:KLAC traded down $24.51 during trading on Friday, reaching $762.55. The company had a trading volume of 918,929 shares, compared to its average volume of 741,782. The company has a fifty day moving average of $805.03 and a two-hundred day moving average of $708.73. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $102.67 billion, a P/E ratio of 39.94, a price-to-earnings-growth ratio of 3.02 and a beta of 1.27. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 earnings per share. Equities research analysts forecast that KLA Co. will post 23.3 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a $1.45 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.76%. KLA’s payout ratio is 30.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KLAC shares. Barclays raised KLA from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $630.00 to $765.00 in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of KLA in a research report on Thursday, April 11th. They set a “buy” rating and a $800.00 target price for the company. Wells Fargo & Company lifted their target price on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. TD Cowen upped their price target on shares of KLA from $650.00 to $700.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $675.00 price objective on shares of KLA in a report on Monday, April 1st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $771.65.

Insider Activity

In other KLA news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 93,142 shares in the company, valued at approximately $66,748,351.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,905 shares of company stock valued at $16,831,966. Corporate insiders own 0.12% of the company’s stock.

KLA 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.