Amalgamated Bank Decreases Stock Position in KLA Co. (NASDAQ:KLAC)

Amalgamated Bank lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,957 shares of the semiconductor company’s stock after selling 491 shares during the period. Amalgamated Bank’s holdings in KLA were worth $23,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in KLA in the second quarter worth $30,000. Cedar Wealth Management LLC increased its stake in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. Frazier Financial Advisors LLC purchased a new stake in KLA in the fourth quarter worth $26,000. DSM Capital Partners LLC purchased a new position in shares of KLA during the fourth quarter valued at $28,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of KLA during the second quarter valued at $44,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Price Performance

Shares of NASDAQ KLAC opened at $739.60 on Wednesday. The business’s 50 day moving average price is $779.79 and its 200 day moving average price is $754.41. The firm has a market cap of $99.58 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.49 and a beta of 1.28. KLA Co. has a 52 week low of $440.15 and a 52 week high of $896.32. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last issued its 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. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. KLA’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.40 earnings per share. On average, sell-side analysts expect that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.78%. KLA’s dividend payout ratio is currently 30.38%.

Analysts Set New Price Targets

Several equities analysts have recently commented on KLAC shares. Argus raised their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup cut their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and a consensus target price of $812.80.

Insider Activity at KLA

In other KLA news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KLA news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The disclosure for this sale can be found here. Insiders have sold a total of 20,917 shares of company stock worth $14,568,247 over the last quarter. Insiders own 0.12% of the company’s stock.

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.