KLA Co. (NASDAQ:KLAC) Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its holdings in KLA Co. (NASDAQ:KLACGet Rating) by 22.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,837 shares of the semiconductor company’s stock after acquiring an additional 341 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in KLA were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mutual of America Capital Management LLC lifted its stake in KLA by 0.4% during the first quarter. Mutual of America Capital Management LLC now owns 21,621 shares of the semiconductor company’s stock valued at $7,915,000 after buying an additional 90 shares in the last quarter. Natixis Advisors L.P. lifted its stake in KLA by 11.5% during the first quarter. Natixis Advisors L.P. now owns 47,234 shares of the semiconductor company’s stock valued at $17,290,000 after buying an additional 4,871 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in KLA by 3.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,834 shares of the semiconductor company’s stock valued at $4,698,000 after buying an additional 432 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of KLA by 66.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 155 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 62 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of KLA by 7.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,426 shares of the semiconductor company’s stock worth $3,327,000 after purchasing an additional 716 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

Shares of NASDAQ KLAC traded down $10.15 during midday trading on Friday, reaching $302.92. 41,192 shares of the company traded hands, compared to its average volume of 1,636,630. The firm has a market cap of $42.95 billion, a PE ratio of 13.88, a PEG ratio of 1.05 and a beta of 1.35. The stock’s 50-day simple moving average is $357.57 and its 200-day simple moving average is $343.74. KLA Co. has a 12 month low of $282.83 and a 12 month high of $457.12. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.75 and a current ratio of 2.50.

KLA (NASDAQ:KLACGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. KLA had a return on equity of 95.80% and a net margin of 36.06%. The business’s revenue was up 29.2% on a year-over-year basis. During the same period last year, the business earned $4.43 earnings per share. As a group, equities analysts anticipate that KLA Co. will post 24.65 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 12th. This is a boost from KLA’s previous quarterly dividend of $1.05. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.72%. KLA’s dividend payout ratio (DPR) is presently 23.74%.

KLA announced that its Board of Directors has approved a share buyback program on Thursday, June 16th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KLAC. Bank of America reduced their price target on shares of KLA from $430.00 to $410.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of KLA from $425.00 to $385.00 in a research report on Monday, July 18th. Evercore ISI set a $425.00 price target on shares of KLA in a research report on Monday, June 20th. Barclays dropped their price objective on KLA from $365.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Finally, Piper Sandler dropped their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.16.

Insider Buying and Selling at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 420 shares of KLA stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $383.71, for a total transaction of $161,158.20. Following the completion of the transaction, the chief accounting officer now directly owns 5,651 shares of the company’s stock, valued at $2,168,345.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 325 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $390.85, for a total value of $127,026.25. Following the completion of the sale, the chief accounting officer now directly owns 5,291 shares in the company, valued at $2,067,987.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Virendra A. Kirloskar sold 420 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $383.71, for a total value of $161,158.20. Following the completion of the sale, the chief accounting officer now owns 5,651 shares of the company’s stock, valued at $2,168,345.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,761 shares of company stock valued at $5,468,670. 0.16% of the stock is currently owned by company insiders.

About KLA

(Get Rating)

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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