Trueblood Wealth Management LLC Sells 50 Shares of KLA Co. (NASDAQ:KLAC)

Trueblood Wealth Management LLC lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 523 shares of the semiconductor company’s stock after selling 50 shares during the quarter. Trueblood Wealth Management LLC’s holdings in KLA were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KLAC. Swedbank AB purchased a new stake in KLA during the first quarter valued at approximately $379,678,000. International Assets Investment Management LLC increased its position in shares of KLA by 76,452.4% during the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after purchasing an additional 301,987 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in KLA by 6,188.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after buying an additional 235,597 shares during the period. Van ECK Associates Corp lifted its position in KLA by 25.7% in the first quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after buying an additional 211,227 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in KLA by 2,205.8% during the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock valued at $166,215,000 after acquiring an additional 192,849 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s 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 owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA 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 completion of the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This trade 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 have sold 20,873 shares of company stock valued at $14,532,193. 0.12% of the stock is currently owned by insiders.

KLA Trading Up 1.0 %

Shares of NASDAQ KLAC opened at $673.07 on Friday. The business has a fifty day moving average price of $757.70 and a 200 day moving average price of $763.21. KLA Co. has a 1-year low of $452.01 and a 1-year 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 stock has a market capitalization of $90.18 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $5.40 EPS. Equities research analysts expect that KLA Co. will post 29.07 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.86%. KLA’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analyst Weigh In

KLAC has been the subject of several analyst reports. Evercore ISI raised their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company dropped their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $804.57.

About KLA

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.