Wolff Wiese Magana LLC Reduces Stock Holdings in KLA Co. (NASDAQ:KLAC)

Wolff Wiese Magana LLC reduced its position in KLA Co. (NASDAQ:KLAC) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 486 shares of the semiconductor company’s stock after selling 26 shares during the quarter. Wolff Wiese Magana LLC’s holdings in KLA were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in KLA in the 4th quarter valued at about $25,000. Frazier Financial Advisors LLC purchased a new position in shares of KLA in the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in shares of KLA in the fourth quarter valued at approximately $28,000. Addison Advisors LLC purchased a new stake in shares of KLA during the 4th quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp boosted its holdings in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares in the company, valued at $66,748,351.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,861 shares of company stock worth $16,795,913 in the last 90 days. Insiders own 0.12% of the company’s stock.

KLA Stock Down 0.5 %

KLAC stock traded down $4.09 during midday trading on Monday, hitting $820.42. The stock had a trading volume of 141,514 shares, compared to its average volume of 902,711. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. The firm has a market cap of $110.46 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 3.94 and a beta of 1.27. The business has a 50-day moving average of $759.32 and a two-hundred day moving average of $681.98. KLA Co. has a 52-week low of $440.15 and a 52-week high of $876.55.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $5.49 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. 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. Stockholders of record on Wednesday, May 15th were given a $1.45 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.71%. KLA’s dividend payout ratio is currently 30.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 target price on the stock. Barclays raised KLA from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $630.00 to $765.00 in a report on Wednesday, June 5th. Jefferies Financial Group assumed coverage on KLA in a report on Monday, May 13th. They set a “buy” rating and a $820.00 target price for the company. Citigroup increased their price target on shares of KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Morgan Stanley boosted their price objective on shares of KLA from $692.00 to $698.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average price target of $747.40.

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.