My Legacy Advisors LLC Cuts Position in KLA Co. (NASDAQ:KLAC)

My Legacy Advisors LLC trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615 shares of the semiconductor company’s stock after selling 54 shares during the quarter. My Legacy Advisors LLC’s holdings in KLA were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in KLA during the 2nd quarter worth $30,000. Cedar Wealth Management LLC grew its stake in KLA by 77.3% during the 1st 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 during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in KLA during the 2nd quarter valued at about $44,000. LRI Investments LLC purchased a new stake in KLA during the 1st quarter valued at about $46,000. Finally, Olistico Wealth LLC purchased a new stake in KLA during the 2nd quarter valued at about $53,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Virendra A. Kirloskar sold 825 shares of the company’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 in the company, valued at $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock worth $14,532,193 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

KLA Price Performance

NASDAQ:KLAC opened at $670.08 on Wednesday. KLA Co. has a 12 month low of $452.01 and a 12 month high of $896.32. The stock has a 50 day moving average of $766.62 and a two-hundred day moving average of $764.72. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The firm has a market cap of $90.22 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. KLA’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $5.40 EPS. On average, analysts expect that KLA Co. will post 29.13 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.87%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analysts Set New Price Targets

Several analysts have weighed in on KLAC shares. JPMorgan Chase & Co. boosted their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price target on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company dropped their price target on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. UBS Group decreased their price objective on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $804.57.

KLA 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.