Quadrant Capital Group LLC Increases Stock Position in KLA Co. (NASDAQ:KLAC)

Quadrant Capital Group LLC raised its holdings in KLA Co. (NASDAQ:KLACGet Rating) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 757 shares of the semiconductor company’s stock after purchasing an additional 83 shares during the quarter. Quadrant Capital Group LLC’s holdings in KLA were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC lifted its position in shares of KLA by 154.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 54 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of KLA by 173.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 59 shares during the period. Centerpoint Advisors LLC acquired a new stake in shares of KLA during the 1st quarter valued at approximately $43,000. DeDora Capital Inc. acquired a new stake in shares of KLA during the 1st quarter valued at approximately $55,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its position in shares of KLA by 36.4% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 150 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 87.13% of the company’s stock.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,020 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total transaction of $343,760.40. Following the completion of the sale, the chief financial officer now directly owns 64,257 shares of the company’s stock, valued at approximately $21,655,894.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total value of $343,760.40. Following the transaction, the chief financial officer now owns 64,257 shares in the company, valued at approximately $21,655,894.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Lorig sold 351 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $383.71, for a total transaction of $134,682.21. Following the completion of the transaction, the executive vice president now owns 29,726 shares in the company, valued at approximately $11,406,163.46. The disclosure for this sale can be found here. In the last three months, insiders sold 1,973 shares of company stock valued at $697,514. Company insiders own 0.16% of the company’s stock.

KLA Stock Up 0.4 %

Shares of NASDAQ KLAC opened at $397.40 on Friday. KLA Co. has a 52-week low of $282.83 and a 52-week high of $457.12. The firm has a fifty day moving average of $339.96 and a 200-day moving average of $347.21. The stock has a market capitalization of $59.31 billion, a PE ratio of 18.15, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a quick ratio of 1.75, a current ratio of 2.50 and a debt-to-equity ratio of 4.76.

KLA (NASDAQ:KLACGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company earned $4.43 EPS. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, analysts anticipate that KLA Co. will post 24.83 EPS for the current year.

KLA declared that its Board of Directors has approved a share repurchase program on Thursday, June 16th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 12.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.31%. This is a boost from KLA’s previous quarterly dividend of $1.05. KLA’s dividend payout ratio is 19.18%.

Analyst Ratings Changes

KLAC has been the subject of several research reports. Barclays cut their price objective on KLA from $365.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. Piper Sandler cut their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $425.00 to $385.00 in a research report on Monday, July 18th. Stifel Nicolaus lifted their price objective on KLA from $450.00 to $505.00 in a research report on Thursday, April 7th. Finally, Evercore ISI set a $425.00 price objective on KLA in a research report on Monday, June 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $425.16.

KLA Company Profile

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KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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