Tower Wealth Partners Inc. Increases Stock Position in KLA Co. (NASDAQ:KLAC)

Tower Wealth Partners Inc. grew its stake in KLA Co. (NASDAQ:KLAC) by 6.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 310 shares of the semiconductor company’s stock after acquiring an additional 19 shares during the period. Tower Wealth Partners Inc.’s holdings in KLA were worth $240,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Swedbank AB purchased a new position in KLA during the 1st quarter valued at about $379,678,000. International Assets Investment Management LLC boosted its stake in shares of KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after purchasing an additional 301,987 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of KLA by 6,188.5% in the third quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after purchasing an additional 235,597 shares in the last quarter. 1832 Asset Management L.P. increased its stake in KLA by 2,205.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after buying an additional 192,849 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in KLA by 136.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock worth $214,667,000 after buying an additional 178,474 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KLAC has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Citigroup cut their price target on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Thursday. Barclays cut their target price on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $802.90.

Insider Transactions at KLA

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,063,876.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the firm’s 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 of the company’s stock, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,873 shares of company stock worth $14,532,193. Company insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of NASDAQ KLAC opened at $669.38 on Friday. The stock has a market cap of $89.68 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.75 and a beta of 1.27. KLA Co. has a twelve month low of $484.33 and a twelve month high of $896.32. The stock has a 50 day moving average of $744.15 and a two-hundred day moving average of $762.89. 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 (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 108.40%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $5.74 EPS. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, research analysts forecast that KLA Co. will post 29.07 earnings per share for the current year.

KLA Profile

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.