KLA Co. (NASDAQ:KLAC) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 1,525 shares of the semiconductor company’s stock after selling 20 shares during the quarter. Grimes & Company Inc.’s holdings in KLA were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of KLAC. Cedar Wealth Management LLC raised its position in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the last quarter. Family Firm Inc. purchased a new position in KLA during the 2nd quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new position in KLA during the 2nd quarter worth $44,000. LRI Investments LLC purchased a new position in KLA during the 1st quarter worth $45,000. Finally, Olistico Wealth LLC purchased a new position in shares of KLA in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’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 transaction of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is owned by company insiders.

KLA Stock Performance

Shares of NASDAQ KLAC opened at $666.16 on Friday. The company has a market cap of $89.69 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. KLA Co. has a 12 month low of $452.01 and a 12 month 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 company has a 50-day simple moving average of $764.03 and a 200-day simple moving average of $764.02.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) 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 firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $5.40 earnings per share. KLA’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that KLA Co. will post 29.13 earnings per share for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 0.87%. KLA’s payout ratio is 30.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KLAC. Barclays increased their price target on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. UBS Group cut their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company cut their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and an average price target 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.