Whittier Trust Co. Trims Stake in KLA Co. (NASDAQ:KLAC)

Whittier Trust Co. cut its position in shares of KLA Co. (NASDAQ:KLACFree Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,905 shares of the semiconductor company’s stock after selling 43 shares during the quarter. Whittier Trust Co.’s holdings in KLA were worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KLAC. Vanguard Personalized Indexing Management LLC raised its position in shares of KLA by 13.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the semiconductor company’s stock worth $5,511,000 after buying an additional 1,096 shares during the period. Intact Investment Management Inc. lifted its position in KLA by 7.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after buying an additional 100 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in KLA during the fourth quarter worth approximately $4,559,000. State of Michigan Retirement System increased its position in shares of KLA by 5.9% in the fourth quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock worth $23,059,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Meritage Portfolio Management raised its stake in shares of KLA by 6.8% in the 4th quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock valued at $15,478,000 after acquiring an additional 1,692 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In other news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the sale, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The disclosure for this sale can be found here. Insiders sold 22,905 shares of company stock worth $16,831,966 over the last ninety days. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

Shares of KLAC opened at $874.90 on Wednesday. KLA Co. has a 52 week low of $440.15 and a 52 week high of $879.89. The company’s 50 day moving average price is $784.30 and its 200 day moving average price is $695.51. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The company has a market capitalization of $117.80 billion, a PE ratio of 45.83, a PEG ratio of 3.43 and a beta of 1.27.

KLA (NASDAQ:KLACGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.49 earnings per share. Research analysts expect that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $1.45 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.66%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on KLAC. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Barclays upgraded KLA from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $630.00 to $765.00 in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Friday, April 26th. TD Cowen lifted their price target on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Cantor Fitzgerald increased their price objective on shares of KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $747.40.

Get Our Latest Report on KLA

About KLA

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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