Boyar Asset Management Inc. Buys New Stake in KLA Co. (NASDAQ:KLAC)

Boyar Asset Management Inc. purchased a new position in KLA Co. (NASDAQ:KLAC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 273 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of KLA by 16.8% in the 4th quarter. Fisher Asset Management LLC now owns 1,377 shares of the semiconductor company’s stock valued at $801,000 after purchasing an additional 198 shares during the last quarter. 9258 Wealth Management LLC acquired a new position in KLA during the 4th quarter valued at approximately $210,000. Wealthcare Advisory Partners LLC purchased a new position in shares of KLA in the fourth quarter worth $248,000. Private Advisor Group LLC lifted its stake in shares of KLA by 8.0% during the fourth quarter. Private Advisor Group LLC now owns 4,120 shares of the semiconductor company’s stock worth $2,395,000 after buying an additional 306 shares during the period. Finally, Wealthspire Advisors LLC purchased a new stake in shares of KLA during the fourth quarter valued at $295,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KLA news, EVP Brian Lorig sold 44 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the sale, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other KLA news, EVP Brian Lorig sold 44 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was 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 of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock worth $14,568,247 over the last three months. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective on the stock. Evercore ISI upped their price target on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays lifted their price objective on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. TD Cowen upped their target price on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price target on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $805.29.

KLA Stock Down 3.5 %

KLAC stock opened at $702.80 on Friday. The firm has a market cap of $94.62 billion, a PE ratio of 36.82, a PEG ratio of 1.63 and a beta of 1.28. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm’s 50 day moving average price is $796.54 and its 200-day moving average price is $750.59.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm earned $5.40 EPS. KLA’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that KLA Co. will post 29.09 EPS for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

KLA Company Profile

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.