Community Financial Services Group LLC Buys 6,279 Shares of KLA Co. (NASDAQ:KLAC)

Community Financial Services Group LLC increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 538.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,445 shares of the semiconductor company’s stock after acquiring an additional 6,279 shares during the quarter. Community Financial Services Group LLC’s holdings in KLA were worth $5,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KLAC. Cedar Wealth Management LLC raised its holdings in KLA by 77.3% during the 1st 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 last quarter. Family Firm Inc. acquired a new stake in shares of KLA during the 2nd quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA during the second quarter worth approximately $44,000. LRI Investments LLC acquired a new position in KLA in the first quarter valued at approximately $45,000. Finally, OFI Invest Asset Management boosted its stake in KLA by 29.8% in the first quarter. OFI Invest Asset Management now owns 74 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of analyst reports. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. UBS Group decreased their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. TD Cowen increased their price target on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group boosted their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Oppenheimer assumed coverage on shares of KLA in a report on Wednesday, September 25th. They issued a “market perform” rating and a $750.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average price target of $804.57.

KLA Stock Down 0.7 %

KLAC traded down $4.91 during trading hours on Monday, hitting $673.61. 738,213 shares of the company’s stock were exchanged, compared to its average volume of 938,157. 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 Co. has a 1-year low of $452.01 and a 1-year high of $896.32. The stock’s 50-day moving average is $770.77 and its two-hundred day moving average is $764.80. The stock has a market cap of $90.69 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $5.40 EPS. KLA’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts predict that KLA Co. will post 29.13 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 annualized dividend and a dividend yield of 0.86%. KLA’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling

In other news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,873 shares of company stock worth $14,532,193. Insiders own 0.12% of the company’s stock.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.