KLA Co. (NASDAQ:KLAC) Shares Sold by Shufro Rose & Co. LLC

Shufro Rose & Co. LLC trimmed its holdings in shares of KLA Co. (NASDAQ:KLACGet Rating) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,959 shares of the semiconductor company’s stock after selling 75 shares during the period. Shufro Rose & Co. LLC’s holdings in KLA were worth $1,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of KLA by 0.4% in the 4th quarter. BlackRock Inc. now owns 11,324,684 shares of the semiconductor company’s stock worth $4,870,858,000 after acquiring an additional 46,645 shares during the period. Capital International Investors grew its position in KLA by 0.8% in the 4th quarter. Capital International Investors now owns 7,531,100 shares of the semiconductor company’s stock valued at $3,238,787,000 after buying an additional 63,037 shares in the last quarter. State Street Corp grew its position in KLA by 1.8% in the 4th quarter. State Street Corp now owns 6,315,958 shares of the semiconductor company’s stock valued at $2,716,557,000 after buying an additional 113,477 shares in the last quarter. Geode Capital Management LLC grew its position in KLA by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,517,601 shares of the semiconductor company’s stock valued at $1,079,897,000 after buying an additional 33,361 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of KLA by 0.4% during the 4th quarter. Northern Trust Corp now owns 1,880,087 shares of the semiconductor company’s stock valued at $808,645,000 after purchasing an additional 7,891 shares in the last quarter. 87.13% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

KLA stock opened at $395.74 on Friday. The business has a 50-day simple moving average of $340.45 and a 200 day simple moving average of $347.09. KLA Co. has a 52 week low of $282.83 and a 52 week high of $457.12. The company has a quick ratio of 1.75, a current ratio of 2.50 and a debt-to-equity ratio of 4.76. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.28 and a beta of 1.33.

KLA (NASDAQ:KLACGet Rating) last issued its earnings results on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.46 by $0.35. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. KLA had a return on equity of 95.80% and a net margin of 36.06%. KLA’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.43 EPS. On average, research analysts forecast that KLA Co. will post 24.83 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be given a $1.30 dividend. The ex-dividend date is Friday, August 12th. This represents a $5.20 annualized dividend and a dividend yield of 1.31%. This is a positive change from KLA’s previous quarterly dividend of $1.05. KLA’s dividend payout ratio is currently 19.18%.

KLA announced that its board has approved a share buyback plan on Thursday, June 16th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on KLAC. The Goldman Sachs Group decreased their target price on shares of KLA from $437.00 to $344.00 in a report on Friday, July 15th. Evercore ISI set a $425.00 price target on shares of KLA in a research note on Monday, June 20th. Piper Sandler cut their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a report on Thursday, May 26th. Wells Fargo & Company cut their price target on KLA from $400.00 to $375.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Finally, UBS Group dropped their price objective on KLA from $360.00 to $345.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $425.16.

Insider Transactions at KLA

In related news, EVP Oreste Donzella sold 96 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $320.00, for a total value of $30,720.00. Following the sale, the executive vice president now owns 35,442 shares in the company, valued at approximately $11,341,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Bren D. Higgins sold 1,020 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total value of $343,760.40. Following the transaction, the chief financial officer now directly owns 64,257 shares in the company, valued at approximately $21,655,894.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Oreste Donzella sold 96 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $320.00, for a total value of $30,720.00. Following the completion of the transaction, the executive vice president now owns 35,442 shares in the company, valued at $11,341,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,303 shares of company stock valued at $2,739,490. Corporate insiders own 0.16% of the company’s stock.

KLA Company Profile

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KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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