Point72 Italy S.r.l. Invests $6.34 Million in KLA Co. (NASDAQ:KLAC)

Point72 Italy S.r.l. acquired a new stake in KLA Co. (NASDAQ:KLAC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,683 shares of the semiconductor company’s stock, valued at approximately $6,335,000. KLA makes up 2.7% of Point72 Italy S.r.l.’s investment portfolio, making the stock its 11th largest position.

Several other large investors have also modified their holdings of the business. 9258 Wealth Management LLC acquired a new stake in shares of KLA during the 4th quarter worth $210,000. SageView Advisory Group LLC purchased a new position in shares of KLA in the 4th quarter worth about $360,000. Parallel Advisors LLC grew its holdings in shares of KLA by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 1,705 shares of the semiconductor company’s stock worth $991,000 after purchasing an additional 23 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in KLA during the 4th quarter worth approximately $201,000. Finally, TD Asset Management Inc raised its holdings in KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after buying an additional 301,848 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the stock in a transaction dated 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 in the company, valued at approximately $11,644,493.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other KLA news, EVP Brian Lorig sold 44 shares of KLA 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 transaction, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is currently owned by company insiders.

KLA Stock Up 1.2 %

NASDAQ:KLAC opened at $770.34 on Wednesday. The stock has a 50-day simple moving average of $769.11 and a 200 day simple moving average of $756.05. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The company has a market capitalization of $103.72 billion, a price-to-earnings 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.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $5.40 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a $1.45 dividend. 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 (DPR) is presently 30.38%.

Analyst Ratings Changes

Several analysts recently issued reports on KLAC shares. Citigroup lowered their price target on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group lowered their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. The Goldman Sachs Group boosted their price target on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen increased their price objective on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Evercore ISI lifted their price objective on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $812.80.

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.