SYSTM Wealth Solutions LLC Sells 2,853 Shares of KLA Co. (NASDAQ:KLAC)

SYSTM Wealth Solutions LLC cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 48.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,085 shares of the semiconductor company’s stock after selling 2,853 shares during the period. SYSTM Wealth Solutions LLC’s holdings in KLA were worth $2,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KLAC. Frazier Financial Advisors LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $26,000. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. DSM Capital Partners LLC bought a new position in shares of KLA during the fourth quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of KLA during the second quarter valued at approximately $30,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of 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 in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Barclays raised their target price on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen lifted their price objective on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus target price of $812.80.

KLA Trading Up 0.4 %

Shares of KLA stock opened at $739.60 on Wednesday. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The firm has a fifty day moving average price of $779.79 and a 200 day moving average price of $754.41. The stock has a market cap of $99.58 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share 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 company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $5.40 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued 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 payout ratio is 30.38%.

Insider Buying and Selling at KLA

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were 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 owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,917 shares of company stock valued at $14,568,247. Corporate insiders own 0.12% of the company’s stock.

About KLA

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.