KLA Co. (NASDAQ:KLAC) Stock Holdings Lifted by Summit Global Investments

Summit Global Investments boosted its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 61.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,508 shares of the semiconductor company's stock after buying an additional 953 shares during the quarter. Summit Global Investments' holdings in KLA were worth $2,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of KLA during the fourth quarter valued at $1,048,728,000. Dakota Wealth Management purchased a new stake in shares of KLA during the first quarter valued at $627,399,000. Swedbank AB purchased a new stake in shares of KLA during the first quarter valued at $379,678,000. Wellington Management Group LLP boosted its stake in shares of KLA by 12.2% during the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company's stock valued at $2,061,469,000 after purchasing an additional 386,810 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of KLA by 43.4% during the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company's stock valued at $580,008,000 after purchasing an additional 301,848 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KLA

In other news, EVP Brian Lorig sold 44 shares of the firm's stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the sale, the executive vice president now owns 14,211 shares of the company's stock, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction 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 sale, the chief executive officer now owns 105,329 shares of the company's stock, valued at approximately $74,257,998.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold 21,936 shares of company stock valued at $15,371,810 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KLAC has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $950.00 price objective on shares of KLA in a research note on Thursday, July 25th. Morgan Stanley upped their price objective on shares of KLA from $692.00 to $698.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. Stifel Nicolaus upped their price objective on shares of KLA from $760.00 to $875.00 and gave the stock a "buy" rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of KLA from $800.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Finally, Argus boosted their target price on shares of KLA from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen 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 target price of $805.29.

KLA Stock Performance

KLAC traded up $15.57 during trading on Wednesday, reaching $827.14. 618,479 shares of the company's stock were exchanged, compared to its average volume of 931,024. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The stock has a market capitalization of $111.37 billion, a P/E ratio of 42.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company's fifty day simple moving average is $807.69 and its 200-day simple moving average is $738.62.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm posted $5.40 EPS. KLA's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts predict that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 15th. KLA's dividend payout ratio is presently 30.38%.

KLA Company Profile

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 three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.