Wesbanco Bank Inc. Sells 46 Shares of KLA Co. (NASDAQ:KLAC)

Wesbanco Bank Inc. cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 3.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,135 shares of the semiconductor company’s stock after selling 46 shares during the quarter. Wesbanco Bank Inc.’s holdings in KLA were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Market Strategies LLC increased its stake in shares of KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares in the last quarter. HBW Advisory Services LLC raised its stake in KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares during the period. United Community Bank lifted its holdings in KLA by 4.0% in the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares in the last quarter. Greystone Financial Group LLC boosted its stake in KLA by 1.4% in the 1st quarter. Greystone Financial Group LLC now owns 1,173 shares of the semiconductor company’s stock worth $819,000 after purchasing an additional 16 shares during the period. Finally, Journey Advisory Group LLC raised its position in shares of KLA by 3.2% during the fourth quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after buying an additional 16 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KLAC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 price objective for the company. Jefferies Financial Group started coverage on KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 price target for the company. The Goldman Sachs Group lifted their price objective on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna lowered their target price on KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, Morgan Stanley raised their target price on shares of KLA from $692.00 to $698.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average price target of $805.29.

Insider Activity

In other news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s 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 transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,769 shares of company stock valued at $21,324,890. Company insiders own 0.12% of the company’s stock.

KLA Price Performance

NASDAQ:KLAC opened at $751.09 on Friday. The stock has a 50 day moving average price of $803.89 and a 200 day moving average price of $726.53. The stock has a market cap of $101.13 billion, a PE ratio of 39.41, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. KLA Co. has a one year low of $440.15 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion during 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%. KLA’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $5.40 earnings per share. Equities research analysts expect that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, August 15th. KLA’s dividend payout ratio (DPR) is 30.38%.

KLA 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.