Whittier Trust Co. Has $1.40 Million Stock Position in KLA Co. (NASDAQ:KLAC)

Whittier Trust Co. cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 5.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,809 shares of the semiconductor company’s stock after selling 112 shares during the quarter. Whittier Trust Co.’s holdings in KLA were worth $1,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of KLAC. Family Firm Inc. purchased a new position in KLA during the second quarter valued at approximately $30,000. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 17 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of KLA during the 2nd quarter valued at $44,000. LRI Investments LLC acquired a new position in shares of KLA in the first quarter worth $46,000. Finally, Olistico Wealth LLC purchased a new stake in shares of KLA during the second quarter worth $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Trading Down 0.5 %

Shares of KLA stock opened at $670.08 on Wednesday. KLA Co. has a 1 year low of $452.01 and a 1 year high of $896.32. The company’s fifty day simple moving average is $766.62 and its 200-day simple moving average is $764.72. The company has a market cap of $90.22 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 1.60 and a beta of 1.27. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion for 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $5.40 EPS. As a group, sell-side analysts expect that KLA Co. will post 29.13 EPS for the current year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays boosted their target price on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Cowen lifted their target price on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Argus increased their price target on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and an average target price of $804.57.

Insider Activity at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the sale, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,873 shares of company stock worth $14,532,193 over the last three months. Company insiders own 0.12% of the company’s stock.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.