PFG Investments LLC Lowers Stock Position in KLA Co. (NASDAQ:KLAC)

PFG Investments LLC cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,040 shares of the semiconductor company’s stock after selling 17 shares during the period. PFG Investments LLC’s holdings in KLA were worth $805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB purchased a new position in KLA in the 1st quarter valued at about $379,678,000. International Assets Investment Management LLC grew its position in KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after acquiring an additional 301,987 shares during the period. Assenagon Asset Management S.A. raised its holdings in KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after buying an additional 235,597 shares during the period. Van ECK Associates Corp lifted its holdings in shares of KLA by 25.7% in the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after acquiring an additional 211,227 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of KLA by 2,205.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock valued at $166,215,000 after buying an additional 192,849 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the sale, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 $74,257,998.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Susquehanna cut their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. The Goldman Sachs Group upped their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. UBS Group dropped their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

KLA Stock Up 1.0 %

KLAC stock opened at $673.07 on Monday. The firm’s 50-day moving average is $757.70 and its two-hundred day moving average is $763.68. The company has a market capitalization of $90.62 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. KLA Co. has a 52 week low of $452.01 and a 52 week high of $896.32. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.86%. KLA’s dividend payout ratio (DPR) is 30.38%.

About KLA

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.