Transform Wealth LLC Cuts Holdings in KLA Co. (NASDAQ:KLAC)

Transform Wealth LLC lessened its stake in KLA Co. (NASDAQ:KLAC) by 34.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,827 shares of the semiconductor company’s stock after selling 4,583 shares during the quarter. Transform Wealth LLC’s holdings in KLA were worth $6,836,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Market Strategies LLC boosted its holdings in KLA by 1.6% in the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC grew its position in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after buying an additional 13 shares during the period. HBW Advisory Services LLC increased its holdings in KLA by 2.6% in the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares in the last quarter. TIAA Trust National Association lifted its position in shares of KLA by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares during the period. Finally, United Community Bank boosted its stake in shares of KLA by 4.0% during the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 15 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KLAC. Wells Fargo & Company reduced their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus increased their price objective on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays upped their price target on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus raised their price objective 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. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $804.57.

Insider Transactions at KLA

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 transaction of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares in the company, valued at $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. In the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is currently owned by company insiders.

KLA Trading Down 1.2 %

KLA stock traded down $8.30 during trading on Wednesday, reaching $699.42. The company had a trading volume of 855,664 shares, compared to its average volume of 925,563. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm has a market capitalization of $94.17 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 1.60 and a beta of 1.27. KLA Co. has a 12-month low of $452.01 and a 12-month high of $896.32. The stock’s 50 day moving average price is $774.08 and its two-hundred day moving average price is $765.30.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping 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 prior year, the firm posted $5.40 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts expect that KLA Co. will post 29.13 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

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.