NewEdge Advisors LLC Cuts Stock Position in KLA Co. (NASDAQ:KLAC)

NewEdge Advisors LLC decreased its holdings in KLA Co. (NASDAQ:KLAC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,136 shares of the semiconductor company’s stock after selling 226 shares during the quarter. NewEdge Advisors LLC’s holdings in KLA were worth $8,278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KLAC. Tortoise Investment Management LLC grew its stake in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new position in KLA during the 4th quarter worth $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in KLA during the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD raised its position in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

KLAC has been the topic of several analyst reports. Cantor Fitzgerald raised their target price on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of KLA from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, January 31st. UBS Group increased their target price on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Citigroup decreased their price target on KLA from $910.00 to $800.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Stifel Nicolaus dropped their price objective on KLA from $825.00 to $750.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $814.11.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now directly owns 28,798 shares of the company’s stock, valued at $20,867,606.76. This represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $634.43 on Friday. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The stock has a market capitalization of $84.31 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.57 and a beta of 1.37. The company has a 50-day simple moving average of $695.14 and a 200-day simple moving average of $690.92. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.07%. KLA’s payout ratio is currently 28.60%.

KLA Company Profile

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.