IFM Investors Pty Ltd Sells 126 Shares of KLA Co. (NASDAQ:KLAC)

IFM Investors Pty Ltd cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,848 shares of the semiconductor company’s stock after selling 126 shares during the period. IFM Investors Pty Ltd’s holdings in KLA were worth $22,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in KLA during the second quarter worth about $30,000. Cedar Wealth Management LLC lifted its holdings 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 valued at $27,000 after purchasing an additional 17 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the second quarter valued at about $44,000. LRI Investments LLC bought a new stake in shares of KLA in the first quarter valued at about $46,000. Finally, Olistico Wealth LLC bought a new stake in shares of KLA in the second quarter valued at about $53,000. 86.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KLAC has been the topic of a number of research reports. Barclays boosted their price target on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted 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. StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their target price on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Citigroup dropped their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $804.57.

KLA Stock Performance

Shares of KLA stock traded up $3.79 on Thursday, hitting $668.42. The stock had a trading volume of 305,292 shares, compared to its average volume of 933,913. KLA Co. has a twelve month low of $452.01 and a twelve month high of $896.32. The business’s 50 day moving average is $764.03 and its two-hundred day moving average is $764.02. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The stock has a market cap of $90.00 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its quarterly 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 return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $5.40 earnings per share. KLA’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts forecast that KLA Co. will post 29.13 EPS for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Insider Activity

In related news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the sale, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,873 shares of company stock worth $14,532,193. Insiders own 0.12% of the company’s stock.

About KLA

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.