Torray Investment Partners LLC Trims Stock Holdings in KLA Co. (NASDAQ:KLAC)

Torray Investment Partners LLC cut its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 21.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,822 shares of the semiconductor company's stock after selling 2,199 shares during the quarter. Torray Investment Partners LLC's holdings in KLA were worth $6,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Frazier Financial Advisors LLC purchased a new stake in shares of KLA in the fourth quarter worth about $26,000. Cedar Wealth Management LLC lifted its position in shares of KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock worth $27,000 after buying an additional 17 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in shares of KLA in the fourth quarter worth about $28,000. Family Firm Inc. purchased a new stake in shares of KLA in the second quarter worth about $30,000. Finally, Jones Financial Companies Lllp lifted its position in shares of KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company's stock worth $37,000 after buying an additional 61 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling at KLA

In other KLA news, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,917 shares of company stock valued at $14,568,247. 0.12% of the stock is currently owned by corporate insiders.

KLA Trading Down 3.5 %

NASDAQ:KLAC traded down $25.26 during midday trading on Friday, hitting $702.80. The stock had a trading volume of 1,390,673 shares, compared to its average volume of 932,352. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The company has a market capitalization of $94.62 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 1.63 and a beta of 1.28. The stock has a 50-day moving average of $796.54 and a 200 day moving average of $751.28. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

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

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.83%. KLA's dividend payout ratio (DPR) is presently 30.38%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com downgraded KLA from a "buy" rating to a "hold" rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price objective on KLA from $860.00 to $950.00 and gave the company an "overweight" rating in a research report on Monday, June 17th. The Goldman Sachs Group upped their price objective on KLA from $735.00 to $838.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Citigroup decreased their price objective on KLA from $990.00 to $960.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Finally, Barclays upped their price objective on KLA from $765.00 to $800.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, KLA presently has a consensus rating of "Moderate Buy" and an average target price of $805.29.

KLA 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.