Cullinan Associates Inc. Has $9.14 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Cullinan Associates Inc. raised its stake in shares of KLA Co. (NASDAQ:KLAC) by 249.9% during the 1st quarter, HoldingsChannel reports. The firm owned 13,081 shares of the semiconductor company’s stock after purchasing an additional 9,342 shares during the quarter. Cullinan Associates Inc.’s holdings in KLA were worth $9,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KLAC. Journey Advisory Group LLC boosted its position in shares of KLA by 3.2% in the fourth quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 16 shares during the period. AdvisorNet Financial Inc boosted its position in shares of KLA by 29.3% in the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 17 shares during the period. West Paces Advisors Inc. boosted its position in shares of KLA by 8.8% in the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 17 shares during the period. Drive Wealth Management LLC boosted its position in shares of KLA by 4.3% in the fourth quarter. Drive Wealth Management LLC now owns 507 shares of the semiconductor company’s stock valued at $295,000 after acquiring an additional 21 shares during the period. Finally, MWA Asset Management boosted its position in shares of KLA by 3.2% in the fourth quarter. MWA Asset Management now owns 683 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Up 0.2 %

Shares of NASDAQ:KLAC traded up $1.87 during trading on Tuesday, hitting $829.66. 166,765 shares of the company’s stock traded hands, compared to its average volume of 899,562. KLA Co. has a 52 week low of $440.15 and a 52 week high of $876.55. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The company has a market cap of $111.71 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 3.94 and a beta of 1.27. The company has a 50-day moving average price of $759.32 and a 200-day moving average price of $681.98.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.49 EPS. As a group, research analysts forecast that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on KLAC. Jefferies Financial Group began coverage on KLA in a research report on Monday, May 13th. They issued a “buy” rating and a $820.00 target price for the company. Citigroup increased their price objective on KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company increased their price objective on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Evercore ISI started coverage on KLA in a research note on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price objective for the company. Finally, Susquehanna restated a “neutral” rating and issued a $675.00 target price on shares of KLA in a research note on Monday, April 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average price target of $747.40.

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

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.