Janney Montgomery Scott LLC Sells 857 Shares of KLA Co. (NASDAQ:KLAC)

Janney Montgomery Scott LLC lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,965 shares of the semiconductor company’s stock after selling 857 shares during the period. Janney Montgomery Scott LLC’s holdings in KLA were worth $61,152,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Cedar Wealth Management LLC raised its position in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. Family Firm Inc. bought a new position in KLA during the 2nd quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the 2nd quarter valued at about $44,000. LRI Investments LLC purchased a new stake in shares of KLA in the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC purchased a new position in KLA during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC stock opened at $669.38 on Friday. The stock has a market cap of $89.68 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29. KLA Co. has a 52-week low of $484.33 and a 52-week high of $896.32. The business has a 50-day simple moving average of $744.15 and a 200-day simple moving average of $763.38. The company has a quick ratio of 1.50, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.74 EPS. On average, equities analysts expect that KLA Co. will post 29.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised KLA from a “hold” rating to a “buy” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Barclays dropped their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

Insider Buying and Selling

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,873 shares of company stock valued at $14,532,193. Corporate insiders own 0.12% of the company’s stock.

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.