Petros Family Wealth LLC purchased a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,907 shares of the semiconductor company's stock, valued at approximately $1,202,000. KLA comprises approximately 1.3% of Petros Family Wealth LLC's holdings, making the stock its 19th largest holding.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tortoise Investment Management LLC boosted its stake in KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after buying an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of KLA during the 4th quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA in the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD raised its holdings in shares of KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in KLA during the fourth quarter valued at approximately $43,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.12% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on KLAC shares. Cantor Fitzgerald upped their price target on KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Oppenheimer reduced their target price on KLA from $850.00 to $700.00 and set an "outperform" rating for the company in a report on Friday. Barclays lifted their price target on KLA from $700.00 to $760.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Citigroup dropped their target price on shares of KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $814.11.
Read Our Latest Analysis on KLA
KLA Stock Up 0.9 %
KLAC stock traded up $6.24 during trading hours on Tuesday, hitting $676.21. The company's stock had a trading volume of 789,273 shares, compared to its average volume of 1,053,313. The company has a market capitalization of $89.86 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The stock has a 50 day moving average price of $703.79 and a two-hundred day moving average price of $693.18. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32.
KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, equities research analysts expect that KLA Co. will post 31.59 earnings per share for the current year.
KLA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 1.01%. KLA's dividend payout ratio (DPR) is currently 28.60%.
About KLA
(
Free Report)
KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.
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