KLA Co. (NASDAQ:KLAC) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its stake in KLA Co. (NASDAQ:KLAC) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,045 shares of the semiconductor company’s stock after selling 581 shares during the period. Pinnacle Associates Ltd.’s holdings in KLA were worth $9,328,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC raised its holdings in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 17 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of KLA during the second quarter worth $30,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA during the second quarter worth about $44,000. LRI Investments LLC bought a new position in shares of KLA during the first quarter worth about $45,000. Finally, Olistico Wealth LLC bought a new position in shares of KLA during the second quarter worth about $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

KLAC stock opened at $691.80 on Thursday. 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 Co. has a one year low of $453.50 and a one year high of $896.32. The firm has a market capitalization of $93.14 billion, a PE ratio of 36.24, a P/E/G ratio of 1.69 and a beta of 1.27. The firm has a 50-day moving average of $749.77 and a two-hundred day moving average of $763.63.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KLAC. UBS Group decreased their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Evercore ISI increased their target price on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. TD Cowen increased their target price on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Susquehanna decreased their target price on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

Insider Buying and Selling at KLA

In other news, CEO Richard P. Wallace sold 17,437 shares of the 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the 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 sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,873 shares of company stock valued at $14,532,193. 0.12% of the stock is currently owned by corporate insiders.

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.