KLA Co. (NASDAQ:KLAC) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 520 shares of the semiconductor company’s stock after selling 105 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in KLA were worth $302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of KLA by 6.4% during the third quarter. Wellington Management Group LLP now owns 3,159,498 shares of the semiconductor company’s stock worth $1,449,135,000 after purchasing an additional 190,355 shares during the last quarter. Northern Trust Corp grew its holdings in KLA by 3.5% during the third quarter. Northern Trust Corp now owns 1,598,677 shares of the semiconductor company’s stock worth $733,249,000 after acquiring an additional 54,472 shares during the period. Invesco Ltd. boosted its stake in shares of KLA by 12.7% during the third quarter. Invesco Ltd. now owns 1,365,784 shares of the semiconductor company’s stock valued at $626,431,000 after acquiring an additional 153,752 shares during the last quarter. Morgan Stanley boosted its stake in shares of KLA by 10.2% during the third quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock valued at $581,496,000 after acquiring an additional 117,584 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in shares of KLA by 52.8% during the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after acquiring an additional 400,000 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

KLA stock traded down $4.29 during trading hours on Thursday, hitting $712.86. The stock had a trading volume of 19,523 shares, compared to its average volume of 943,352. KLA Co. has a fifty-two week low of $380.50 and a fifty-two week high of $729.15. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The company has a 50-day moving average of $690.33 and a two-hundred day moving average of $612.86. The company has a market cap of $95.98 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.97 and a beta of 1.33.

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

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a yield of 0.81%. KLA’s dividend payout ratio is 30.38%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Berenberg Bank increased their price objective on KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Friday, April 26th. Cantor Fitzgerald increased their target price on KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company increased their target price on KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, UBS Group raised their price objective on KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. 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’s stock. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and an average target price of $722.26.

Insider Activity at KLA

In related news, EVP Oreste Donzella sold 3,257 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Bren D. Higgins sold 7,018 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the sale, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction on 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 $11,809,017.70. The disclosure for this sale can be found here. 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.