SteelPeak Wealth LLC Makes New $9.55 Million Investment in KLA Co. (NASDAQ:KLAC)

SteelPeak Wealth LLC purchased a new stake in shares of KLA Co. (NASDAQ:KLAC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,337 shares of the semiconductor company’s stock, valued at approximately $9,554,000.

Several other large investors have also recently modified their holdings of the stock. First Trust Direct Indexing L.P. grew its holdings in shares of KLA by 7.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,352 shares of the semiconductor company’s stock valued at $3,371,000 after buying an additional 283 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of KLA in the 3rd quarter worth $61,000. Highview Capital Management LLC DE raised its stake in shares of KLA by 3.3% in the third quarter. Highview Capital Management LLC DE now owns 1,550 shares of the semiconductor company’s stock worth $1,200,000 after purchasing an additional 50 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of KLA by 46.8% during the third quarter. Fidelis Capital Partners LLC now owns 3,076 shares of the semiconductor company’s stock valued at $2,382,000 after purchasing an additional 980 shares in the last quarter. Finally, Davidson Capital Management Inc. boosted its position in shares of KLA by 3.2% during the third quarter. Davidson Capital Management Inc. now owns 4,103 shares of the semiconductor company’s stock valued at $3,178,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Virendra A. Kirloskar sold 825 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. 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 17,437 shares of the firm’s stock in a transaction on 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 directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,873 shares of company stock valued at $14,532,193. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KLAC. Citigroup lowered their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Finally, TD Cowen lifted their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average target price of $804.57.

KLA Price Performance

KLAC traded down $9.22 on Wednesday, hitting $687.01. 295,125 shares of the company’s stock traded hands, compared to its average volume of 936,197. KLA Co. has a one year low of $453.50 and a one year high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The firm has a market cap of $92.50 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 1.69 and a beta of 1.27. The company’s 50 day simple moving average is $752.47 and its 200-day simple moving average is $764.14.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.45 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.84%. KLA’s dividend payout ratio is 30.38%.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.