Valley National Advisers Inc. Has $1.61 Million Stake in KLA Co. (NASDAQ:KLAC)

Valley National Advisers Inc. reduced its stake in shares of KLA Co. (NASDAQ:KLAC) by 43.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,079 shares of the semiconductor company’s stock after selling 1,576 shares during the quarter. Valley National Advisers Inc.’s holdings in KLA were worth $1,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 17 shares during the period. Family Firm Inc. purchased a new stake in shares of KLA during the second quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in KLA during the second quarter valued at $44,000. LRI Investments LLC acquired a new position in KLA in the 1st quarter worth about $45,000. Finally, Olistico Wealth LLC purchased a new stake in shares of KLA during the 2nd quarter worth about $53,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 1.0 %

Shares of KLAC stock opened at $673.07 on Friday. The company has a market capitalization of $90.18 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. KLA Co. has a 12-month low of $452.01 and a 12-month high of $896.32. 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 firm has a 50-day moving average price of $757.70 and a 200 day moving average price of $763.21.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. The business 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%. KLA’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.40 EPS. Research analysts forecast that KLA Co. will post 29.07 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is currently 28.57%.

Insider Transactions at KLA

In related news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 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 at the SEC website. In related news, EVP Mary Beth Wilkinson sold 2,611 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the transaction, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI increased their price objective on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Argus boosted their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a report on Tuesday, October 8th. Finally, TD Cowen increased their target price on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

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.