KLA Co. (NASDAQ:KLAC) Stock Position Lowered by Franklin Street Advisors Inc. NC

11 Oct 2024, 15:53 by Amy Steele · The Cerbat Gem

Franklin Street Advisors Inc. NC lessened its position in KLA Co. (NASDAQ:KLAC – Free Report) by 12.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 443 shares of the semiconductor company’s stock after selling 65 shares during the period. Franklin Street Advisors Inc. NC’s holdings in KLA were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of KLA in the 1st quarter worth $379,678,000. Wellington Management Group LLP grew its holdings in shares of KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after acquiring an additional 386,810 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after acquiring an additional 211,227 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after acquiring an additional 192,849 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of KLA by 136.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock worth $214,667,000 after acquiring an additional 178,474 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,873 shares of company stock worth $14,532,193. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

KLAC traded down $1.64 on Friday, hitting $796.34. 78,026 shares of the stock traded hands, compared to its average volume of 915,565. KLA Co. has a 52 week low of $452.01 and a 52 week 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 capitalization of $106.69 billion, a PE ratio of 39.31, a P/E/G ratio of 1.60 and a beta of 1.27. The business has a fifty day moving average price of $768.74 and a two-hundred day moving average price of $762.35.

KLA (NASDAQ:KLAC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $5.40 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that KLA Co. will post 29.13 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.73%. KLA’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Susquehanna lowered their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday. Oppenheimer assumed coverage on KLA in a report on Wednesday, September 25th. They set a “market perform” rating and a $750.00 price target on the stock. UBS Group lowered their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Finally, Argus lifted their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $804.57.

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