Mn Services Vermogensbeheer B.V. Lowers Stake in KLA Co. (NASDAQ:KLAC)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,900 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in KLA were worth $44,441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Frazier Financial Advisors LLC bought a new stake in KLA during the fourth quarter valued at about $26,000. Cedar Wealth Management LLC grew its position in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the last quarter. DSM Capital Partners LLC purchased a new position in shares of KLA in the 4th quarter worth approximately $28,000. Addison Advisors LLC bought a new position in shares of KLA during the 4th quarter worth approximately $29,000. Finally, Family Firm Inc. purchased a new stake in KLA during the second quarter valued at approximately $30,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Price Performance

NASDAQ KLAC traded up $19.32 during mid-day trading on Friday, hitting $817.84. The stock had a trading volume of 685,795 shares, compared to its average volume of 929,858. The firm’s 50 day moving average is $806.90 and its 200 day moving average is $742.04. 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 $110.11 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.50 and a beta of 1.27. KLA Co. has a twelve month low of $440.15 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The business 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%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.40 earnings per share. Equities research analysts forecast that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on KLA in a research report on Monday, May 13th. They set a “buy” rating and a $820.00 price target on the stock. The Goldman Sachs Group increased their price target on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Needham & Company LLC restated a “hold” rating on shares of KLA in a report on Friday, April 26th. Finally, Stifel Nicolaus lifted their target price on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $805.29.

Insider Activity

In related news, 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 transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 directly owns 4,231 shares in the company, valued at $2,749,473.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the business’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 completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The disclosure for this sale can be found here. Insiders sold 20,917 shares of company stock worth $14,568,247 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

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.