King Luther Capital Management Corp Has $2.13 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

King Luther Capital Management Corp increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,585 shares of the semiconductor company’s stock after buying an additional 85 shares during the period. King Luther Capital Management Corp’s holdings in KLA were worth $2,131,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC lifted its position in shares of KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares in the last quarter. DSM Capital Partners LLC bought a new position in KLA in the 4th quarter worth approximately $28,000. Family Firm Inc. acquired a new position in KLA during the 2nd quarter worth $30,000. Jones Financial Companies Lllp boosted its position in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 61 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of KLA in the 2nd quarter valued at $44,000. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KLAC. Cantor Fitzgerald reiterated a “neutral” rating and issued a $950.00 price target on shares of KLA in a report on Thursday, July 25th. Citigroup lowered their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Evercore ISI lifted their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus upped their target price on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $812.80.

KLA Stock Performance

Shares of KLAC opened at $758.85 on Friday. The firm has a market cap of $102.17 billion, a P/E ratio of 39.75, a PEG ratio of 1.49 and a beta of 1.28. KLA Co. has a twelve month low of $440.15 and a twelve month high of $896.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm’s 50 day moving average price is $772.98 and its two-hundred day moving average price is $755.00.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.15 by $0.45. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.40 EPS. On average, analysts forecast that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.76%. KLA’s payout ratio is presently 30.38%.

Insider Activity at KLA

In other KLA news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated 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 owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,917 shares of company stock valued at $14,568,247. 0.12% of the stock is owned by insiders.

About KLA

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.