Alight Capital Management LP Sells 3,000 Shares of KLA Co. (NASDAQ:KLAC)

Alight Capital Management LP cut its position in shares of KLA Co. (NASDAQ:KLAC) by 37.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,000 shares of the semiconductor company’s stock after selling 3,000 shares during the period. Alight Capital Management LP’s holdings in KLA were worth $4,123,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. APG Asset Management US Inc. purchased a new position in KLA during the fourth quarter valued at $15,781,000. Grayhawk Investment Strategies Inc. bought a new position in shares of KLA in the 4th quarter worth about $1,050,000. New Mexico Educational Retirement Board lifted its position in KLA by 22.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock valued at $6,133,000 after acquiring an additional 1,600 shares during the period. Norden Group LLC boosted its stake in KLA by 1,579.3% during the first quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after acquiring an additional 6,175 shares in the last quarter. Finally, Objective Capital Management LLC purchased a new stake in KLA in the fourth quarter worth about $213,000. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KLAC has been the subject of a number of analyst reports. Raymond James raised their price objective on KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Barclays raised their price target on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Susquehanna dropped their price target on shares of KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $950.00 price objective on shares of KLA in a research report on Thursday, July 25th. Finally, Citigroup decreased their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus price target of $809.81.

Insider Activity

In related news, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other KLA news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. The disclosure for this sale can be found here. Insiders sold a total of 20,917 shares of company stock valued at $14,568,247 in the last 90 days. Company insiders own 0.12% of the company’s stock.

KLA Stock Up 1.2 %

KLA stock opened at $770.34 on Wednesday. The stock has a market cap of $103.72 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. 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 stock has a fifty day moving average of $769.11 and a 200 day moving average of $756.05. KLA Co. has a one year low of $440.15 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results 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 firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.40 EPS. As a group, sell-side analysts predict that KLA Co. will post 29.09 EPS for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

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.