Cypress Asset Management Inc. TX Sells 25 Shares of KLA Co. (NASDAQ:KLAC)

Cypress Asset Management Inc. TX trimmed its position in KLA Co. (NASDAQ:KLAC) by 1.5% in the first quarter, Holdings Channel reports. The fund owned 1,675 shares of the semiconductor company’s stock after selling 25 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in KLA were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. United Community Bank lifted its holdings in shares of KLA by 4.0% during the first quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares during the period. Greystone Financial Group LLC lifted its holdings in 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. Journey Advisory Group LLC grew its position in shares of KLA by 3.2% in the 4th quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after buying an additional 16 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of KLA by 29.3% in the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 17 shares during the period. Finally, West Paces Advisors Inc. raised its position in shares of KLA by 8.8% during the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In other KLA news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other KLA news, EVP Brian Lorig sold 44 shares of the 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 completion of the sale, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at approximately $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock worth $16,831,966 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KLAC has been the topic of several analyst reports. Evercore ISI upped their target price on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James upped their price target 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. Finally, Citigroup increased their price target on KLA from $760.00 to $980.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $806.24.

KLA Stock Down 7.9 %

NASDAQ KLAC traded down $59.97 during mid-day trading on Friday, hitting $696.17. The company’s stock had a trading volume of 2,071,281 shares, compared to its average volume of 1,064,510. The firm has a market capitalization of $93.73 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 1.50 and a beta of 1.27. The company’s 50 day simple moving average is $808.65 and its 200 day simple moving average is $722.79. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. KLA Co. has a twelve month low of $440.15 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company earned $5.40 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Analysts anticipate that KLA Co. will post 29.09 earnings per share for the current year.

KLA Dividend Announcement

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 paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, August 15th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

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.