Lecap Asset Management Ltd. Reduces Position in KLA Co. (NASDAQ:KLAC)

Lecap Asset Management Ltd. cut its position in KLA Co. (NASDAQ:KLAC) by 65.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,634 shares of the semiconductor company’s stock after selling 3,136 shares during the period. Lecap Asset Management Ltd.’s holdings in KLA were worth $1,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Cedar Wealth Management LLC raised its stake in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares in the last quarter. Family Firm Inc. acquired a new stake in KLA during the 2nd quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in KLA during the 2nd quarter worth $44,000. LRI Investments LLC acquired a new stake in KLA during the 1st quarter worth $45,000. Finally, Olistico Wealth LLC acquired a new stake in KLA during the 2nd quarter worth $53,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Down 0.8 %

Shares of NASDAQ KLAC opened at $664.63 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. KLA Co. has a 52 week low of $452.01 and a 52 week high of $896.32. The firm has a 50-day moving average price of $764.03 and a 200 day moving average price of $764.02. The stock has a market capitalization of $89.49 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.40 earnings per share. Equities research analysts anticipate that KLA Co. will post 29.13 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 payout ratio is currently 30.38%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KLAC. StockNews.com downgraded shares of KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Citigroup lowered their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Barclays raised their price objective on shares of KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Susquehanna lowered their price objective on shares of KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

Insiders Place Their Bets

In other KLA news, 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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. Insiders own 0.12% of the company’s stock.

KLA Company 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.