KLA Co. (NASDAQ:KLAC) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 7.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,693 shares of the semiconductor company’s stock after selling 4,004 shares during the period. KLA comprises about 3.3% of Smith Group Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Smith Group Asset Management LLC’s holdings in KLA were worth $39,257,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of KLA by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 59,246 shares of the semiconductor company’s stock worth $45,881,000 after buying an additional 19,522 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of KLA by 28.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 370 shares of the semiconductor company’s stock worth $286,000 after buying an additional 81 shares in the last quarter. Concord Wealth Partners grew its position in KLA by 6.7% during the 3rd quarter. Concord Wealth Partners now owns 1,345 shares of the semiconductor company’s stock worth $1,042,000 after acquiring an additional 85 shares during the last quarter. Vivid Wealth Management LLC grew its position in KLA by 9.9% during the 3rd quarter. Vivid Wealth Management LLC now owns 2,711 shares of the semiconductor company’s stock worth $2,100,000 after acquiring an additional 245 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in KLA during the 3rd quarter worth $534,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock valued at $14,532,193 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

KLAC has been the topic of a number of research reports. TD Cowen boosted their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company reduced their price target on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna reduced their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, UBS Group reduced their price target on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Ten research 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, KLA presently has an average rating of “Moderate Buy” and an average price target of $804.57.

KLA Stock Performance

Shares of KLA stock opened at $674.35 on Tuesday. The company has a market cap of $90.79 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. KLA Co. has a 52 week low of $452.03 and a 52 week high of $896.32. The business has a 50 day moving average price of $754.78 and a 200-day moving average price of $764.03. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

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.