Callan Family Office LLC Acquires New Stake in KLA Co. (NASDAQ:KLAC)

Callan Family Office LLC acquired a new stake in KLA Co. (NASDAQ:KLAC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 579 shares of the semiconductor company's stock, valued at approximately $477,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in KLA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company's stock valued at $9,159,832,000 after buying an additional 76,226 shares during the last quarter. Wellington Management Group LLP increased its position 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 worth $2,061,469,000 after acquiring an additional 386,810 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of KLA by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company's stock worth $1,829,352,000 after acquiring an additional 71,289 shares during the last quarter. Norges Bank acquired a new position in KLA in the fourth quarter worth about $1,048,728,000. Finally, Van ECK Associates Corp grew its stake in KLA by 25.7% in the first quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company's stock worth $720,936,000 after purchasing an additional 211,227 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Transactions at KLA

In other KLA 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 transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Brian Lorig sold 44 shares of the company'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 transaction, the executive vice president now owns 14,211 shares of the company's stock, valued at $11,644,493.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction 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 approximately $74,257,998.29. The disclosure for this sale can be found here. In the last three months, insiders sold 20,917 shares of company stock valued at $14,568,247. Insiders own 0.12% of the company's stock.

KLA Stock Down 2.3 %

Shares of KLAC stock traded down $18.87 during trading hours on Monday, reaching $798.97. 778,200 shares of the company's stock were exchanged, compared to its average volume of 928,935. The stock's 50 day moving average is $805.91 and its 200-day moving average is $744.25. The company has a market cap of $107.57 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 1.50 and a beta of 1.27. 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 fifty-two week low of $440.15 and a fifty-two week high of $896.32.

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

KLA Dividend Announcement

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 $1.45 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.73%. KLA's dividend payout ratio is presently 30.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KLAC shares. Raymond James boosted their price objective on KLA from $750.00 to $875.00 and gave the stock an "outperform" rating in a research report on Friday, June 7th. JPMorgan Chase & Co. increased their price target on KLA from $800.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Cantor Fitzgerald restated a "neutral" rating and issued a $950.00 price objective on shares of KLA in a research note on Thursday, July 25th. Barclays raised their target price on KLA from $765.00 to $800.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 25th. Finally, Citigroup cut their price target on KLA from $990.00 to $960.00 and set a "buy" rating for the company in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $805.29.

About KLA

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.

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