Sigma Investment Counselors Inc. Makes New $3.77 Million Investment in KLA Co. (NASDAQ:KLAC)

Sigma Investment Counselors Inc. bought a new position in shares of KLA Co. (NASDAQ:KLAC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,568 shares of the semiconductor company's stock, valued at approximately $3,766,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in KLA during the 4th quarter worth $26,000. Cedar Wealth Management LLC increased its position in KLA by 77.3% in the 1st 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 during the period. DSM Capital Partners LLC purchased a new stake in KLA during the 4th quarter valued at approximately $28,000. Addison Advisors LLC acquired a new stake in KLA during the 4th quarter worth approximately $29,000. Finally, Family Firm Inc. purchased a new position in shares of KLA in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Trading Up 2.4 %

NASDAQ KLAC traded up $19.32 during mid-day trading on Friday, hitting $817.84. The company's stock had a trading volume of 685,795 shares, compared to its average volume of 929,858. The firm has a market capitalization of $110.11 billion, a P/E ratio of 42.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. KLA Co. has a 52-week low of $440.15 and a 52-week high of $896.32. The stock's fifty day simple moving average is $806.90 and its two-hundred day simple moving average is $742.98.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating 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 business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm posted $5.40 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts expect that KLA Co. will post 29.09 EPS for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.71%. KLA's dividend payout ratio (DPR) is currently 30.38%.

Analyst Ratings Changes

KLAC has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $950.00 price target on shares of KLA in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of KLA from $700.00 to $760.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Raymond James raised their price objective on shares of KLA from $750.00 to $875.00 and gave the company an "outperform" rating in a research report on Friday, June 7th. Wells Fargo & Company increased their target price on KLA from $860.00 to $950.00 and gave the stock an "overweight" rating in a research note on Monday, June 17th. Finally, Argus upped their price objective on KLA from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and a consensus price target of $805.29.

Insider Activity at KLA

In other news, EVP Brian Lorig sold 44 shares of the business's 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 transaction, the executive vice president now directly owns 14,211 shares of the company's stock, valued at $11,644,493.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Brian Lorig sold 44 shares of the business's stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. 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 stock in a transaction dated 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. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,917 shares of company stock worth $14,568,247. 0.12% of the stock is currently owned by company insiders.

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.