Teamwork Financial Advisors LLC Grows Stock Holdings in KLA Co. (NASDAQ:KLAC)

Teamwork Financial Advisors LLC raised its position in shares of KLA Co. (NASDAQ:KLAC) by 48.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,777 shares of the semiconductor company’s stock after purchasing an additional 5,491 shares during the period. KLA makes up approximately 1.8% of Teamwork Financial Advisors LLC’s holdings, making the stock its 14th largest holding. Teamwork Financial Advisors LLC’s holdings in KLA were worth $11,721,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KLAC. Vanguard Group Inc. increased its holdings in KLA by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,036,035 shares of the semiconductor company’s stock valued at $7,577,847,000 after purchasing an additional 133,821 shares during the period. Wellington Management Group LLP increased its holdings in KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares during the period. Norges Bank purchased a new position in KLA during the 4th quarter valued at about $1,048,728,000. Morgan Stanley increased its holdings in KLA by 10.2% during the 3rd quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock valued at $581,496,000 after purchasing an additional 117,584 shares during the period. Finally, TD Asset Management Inc increased its holdings in KLA by 43.4% during the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Richard P. Wallace sold 14,009 shares of the firm’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 available at the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of KLA 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 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 22,905 shares of company stock worth $16,831,966 over the last three months. Corporate insiders own 0.12% of the company’s stock.

KLA Trading Up 1.7 %

KLAC traded up $14.22 during trading on Thursday, hitting $853.33. 440,788 shares of the stock were exchanged, compared to its average volume of 766,154. KLA Co. has a 1 year low of $440.15 and a 1 year high of $876.55. The firm has a market cap of $114.89 billion, a price-to-earnings ratio of 44.70, a P/E/G ratio of 3.32 and a beta of 1.27. The firm has a 50 day simple moving average of $770.95 and a 200 day simple moving average of $686.67. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm earned $5.49 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts expect that KLA Co. will post 23.3 EPS for the current year.

KLA Dividend Announcement

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. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.68%. KLA’s dividend payout ratio (DPR) is 30.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America upped their price objective on KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Evercore ISI assumed coverage on KLA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price objective on the stock. Citigroup upped their price objective on 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 upped their price objective on KLA from $692.00 to $698.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $747.40.

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.