KLA Co. (NASDAQ:KLAC) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lessened its position in KLA Co. (NASDAQ:KLAC) by 5.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,357 shares of the semiconductor company’s stock after selling 76 shares during the period. Alpha Omega Wealth Management LLC’s holdings in KLA were worth $948,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of KLA during the fourth quarter worth about $1,048,728,000. Alkeon Capital Management LLC boosted its position in shares of KLA by 52.8% in the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock worth $530,630,000 after acquiring an additional 400,000 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of KLA by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after acquiring an additional 386,810 shares during the last quarter. TD Asset Management Inc boosted its position in shares of KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock worth $580,008,000 after acquiring an additional 301,848 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of KLA by 6,309.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock worth $145,410,000 after acquiring an additional 246,244 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the completion of the sale, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the transaction, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at approximately $24,726,714.48. The disclosure for this sale can be found here. Insiders sold a total of 22,861 shares of company stock worth $16,795,913 over the last 90 days. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of KLA from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI started coverage on shares of KLA in a research report on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price target on the stock. Bank of America lifted their price target on shares of KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Citigroup lifted their price target on shares of KLA from $725.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Morgan Stanley lifted their price target on shares of KLA from $692.00 to $698.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $747.40.

KLA Stock Up 1.2 %

Shares of NASDAQ:KLAC traded up $9.64 during midday trading on Friday, reaching $824.51. The company had a trading volume of 849,376 shares, compared to its average volume of 806,531. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. The stock’s fifty day moving average price is $759.32 and its 200-day moving average price is $681.20. The stock has a market capitalization of $111.01 billion, a P/E ratio of 43.19, a PEG ratio of 3.90 and a beta of 1.28. KLA Co. has a one year low of $440.15 and a one year high of $876.55.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $5.49 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a dividend of $1.45 per share. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.70%. KLA’s payout ratio is 30.38%.

About KLA

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.