Summit Trail Advisors LLC Sells 51 Shares of KLA Co. (NASDAQ:KLAC)

Summit Trail Advisors LLC lowered its holdings in KLA Co. (NASDAQ:KLAC) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 564 shares of the semiconductor company’s stock after selling 51 shares during the period. Summit Trail Advisors LLC’s holdings in KLA were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of KLAC. Fortitude Family Office LLC acquired a new position in KLA during the fourth quarter worth $25,000. Addison Advisors LLC acquired a new stake in shares of KLA during the 4th quarter worth about $29,000. Operose Advisors LLC acquired a new position in KLA in the third quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in KLA during the third quarter worth about $26,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of KLA by 29.3% during the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after buying an additional 17 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KLA

In other KLA news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the sale, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other KLA news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the transaction, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen increased their price target on KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Stifel Nicolaus raised their price objective on shares of KLA from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Berenberg Bank upped their target price on shares of KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Susquehanna restated a “neutral” rating and issued a $675.00 price objective on shares of KLA in a research report on Monday, April 1st. Finally, Morgan Stanley lifted their target price on KLA from $692.00 to $698.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $722.26.

KLA Stock Down 1.1 %

KLAC opened at $706.73 on Wednesday. KLA Co. has a fifty-two week low of $374.49 and a fifty-two week high of $729.15. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The stock has a fifty day moving average of $689.45 and a 200-day moving average of $612.12. The company has a market capitalization of $95.15 billion, a P/E ratio of 37.42, a P/E/G ratio of 2.97 and a beta of 1.33.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $5.49 earnings per share. On average, equities analysts expect that KLA Co. will post 23.24 EPS for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, May 14th. KLA’s dividend payout ratio is currently 30.38%.

KLA Company 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.