Financial Advocates Investment Management Boosts Position in KLA Co. (NASDAQ:KLAC)

Financial Advocates Investment Management raised its position in KLA Co. (NASDAQ:KLAC) by 3.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 597 shares of the semiconductor company’s stock after acquiring an additional 21 shares during the quarter. Financial Advocates Investment Management’s holdings in KLA were worth $462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Wealth Management LLC raised its position in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the period. Family Firm Inc. bought a new position in shares of KLA in the second quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA in the second quarter worth about $44,000. LRI Investments LLC bought a new position in shares of KLA during the 1st quarter valued at approximately $45,000. Finally, Olistico Wealth LLC purchased a new stake in KLA in the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KLAC. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Argus upped their price objective on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI lifted their target price on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $802.90.

Insider Activity at KLA

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s 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 owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 of the company’s stock, valued at $6,063,876.66. The trade was 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. Insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of KLA stock opened at $669.38 on Friday. The stock has a market cap of $89.68 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.50 and a current ratio of 2.13. The stock has a 50 day moving average price of $744.15 and a 200-day moving average price of $763.38. KLA Co. has a one year low of $484.33 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the firm earned $5.74 earnings per share. KLA’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities analysts expect that KLA Co. will post 29.26 EPS for the current year.

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.