Beverly Hills Private Wealth LLC Sells 381 Shares of KLA Co. (NASDAQ:KLAC)

Beverly Hills Private Wealth LLC lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 21.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,394 shares of the semiconductor company’s stock after selling 381 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in KLA were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KLAC. Norges Bank acquired a new stake in shares of KLA in the fourth quarter worth $1,048,728,000. Dakota Wealth Management acquired a new stake in shares of KLA during the 1st quarter worth approximately $627,399,000. Swedbank AB bought a new stake in shares of KLA during the first quarter valued at approximately $379,678,000. Wellington Management Group LLP lifted its position in KLA by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after purchasing an additional 386,810 shares during the period. Finally, TD Asset Management Inc boosted its stake in KLA by 43.4% during the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock worth $580,008,000 after buying an additional 301,848 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $950.00 price objective on shares of KLA in a report on Thursday, July 25th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Argus increased their target price on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays upped their price target on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Raymond James boosted 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. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $805.29.

KLA Price Performance

Shares of KLAC opened at $748.82 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. KLA Co. has a 52-week low of $440.15 and a 52-week high of $896.32. The stock has a 50 day simple moving average of $789.58 and a 200 day simple moving average of $752.45. The firm has a market capitalization of $100.82 billion, a PE ratio of 39.23, a P/E/G ratio of 1.40 and a beta of 1.28.

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

KLA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.77%. KLA’s dividend payout ratio is 30.38%.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 44 shares of KLA stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock valued at $14,568,247 in the last 90 days. 0.12% of the stock is currently owned by insiders.

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.