Chapin Davis Inc. Sells 94 Shares of KLA Co. (NASDAQ:KLAC)

Chapin Davis Inc. cut its position in shares of KLA Co. (NASDAQ:KLAC) by 3.0% in the first quarter, Holdings Channel reports. The institutional investor owned 3,062 shares of the semiconductor company’s stock after selling 94 shares during the period. KLA comprises 0.8% of Chapin Davis Inc.’s portfolio, making the stock its 29th biggest holding. Chapin Davis Inc.’s holdings in KLA were worth $2,139,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Journey Advisory Group LLC grew its stake in KLA by 3.2% in the fourth quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock valued at $301,000 after purchasing an additional 16 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of KLA by 29.3% in the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 17 shares in the last quarter. West Paces Advisors Inc. increased its holdings in KLA by 8.8% during the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock worth $122,000 after buying an additional 17 shares during the last quarter. Drive Wealth Management LLC raised its position in KLA by 4.3% during the fourth quarter. Drive Wealth Management LLC now owns 507 shares of the semiconductor company’s stock worth $295,000 after acquiring an additional 21 shares in the last quarter. Finally, MWA Asset Management lifted its stake in KLA by 3.2% in the fourth quarter. MWA Asset Management now owns 683 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of KLA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 target price for the company. Susquehanna restated a “neutral” rating and issued a $675.00 price target on shares of KLA in a research note on Monday, April 1st. TD Cowen raised their price target on KLA from $650.00 to $700.00 and gave the company a “hold” rating in a report on Friday, April 26th. Barclays upgraded shares of KLA from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $630.00 to $765.00 in a report on Wednesday, June 5th. Finally, UBS Group raised their target price on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average target price of $747.40.

Insider Buying and Selling

In related news, insider Ahmad A. Khan sold 7,833 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the sale, the insider now owns 32,105 shares of the company’s stock, valued at approximately $24,399,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the completion of the transaction, the chief financial officer now owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ahmad A. Khan sold 7,833 shares of KLA stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the transaction, the insider now owns 32,105 shares in the company, valued at approximately $24,399,800. The disclosure for this sale can be found here. Insiders sold a total of 22,861 shares of company stock worth $16,795,913 in the last three months. 0.12% of the stock is owned by corporate insiders.

KLA Stock Performance

Shares of KLA stock opened at $824.51 on Monday. KLA Co. has a 1-year low of $440.15 and a 1-year high of $876.55. The company has a 50 day moving average of $759.32 and a 200-day moving average of $681.98. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The company has a market cap of $111.01 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 3.94 and a beta of 1.27.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $5.49 EPS. KLA’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

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.