Visionary Horizons LLC Lowers Stock Position in KLA Co. (NASDAQ:KLAC)

Visionary Horizons LLC decreased its position in shares of KLA Co. (NASDAQ:KLAC) by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 808 shares of the semiconductor company’s stock after selling 92 shares during the period. Visionary Horizons LLC’s holdings in KLA were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. G&S Capital LLC purchased a new stake in KLA during the first quarter valued at approximately $662,000. Brookstone Capital Management raised its holdings in shares of KLA by 24.5% in the first quarter. Brookstone Capital Management now owns 467 shares of the semiconductor company’s stock worth $326,000 after buying an additional 92 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of KLA by 24.1% in the first quarter. Sunbelt Securities Inc. now owns 422 shares of the semiconductor company’s stock worth $295,000 after buying an additional 82 shares during the last quarter. RMR Wealth Builders purchased a new position in shares of KLA in the first quarter worth $247,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of KLA in the first quarter worth $280,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

NASDAQ:KLAC opened at $813.30 on Thursday. The company’s 50-day moving average price is $748.89 and its 200-day moving average price is $676.62. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The company has a market cap of $109.50 billion, a P/E ratio of 42.60, a P/E/G ratio of 3.91 and a beta of 1.28. KLA Co. has a twelve month low of $440.15 and a twelve month high of $876.55.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $5.49 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $675.00 price target on shares of KLA in a report on Monday, April 1st. TD Cowen increased their price objective on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Citigroup increased their price objective on shares of KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Evercore ISI initiated coverage on shares of KLA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $747.40.

Insiders Place Their Bets

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other KLA news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the completion of the sale, the chief financial officer now directly owns 31,356 shares in the company, valued at $24,726,714.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,861 shares of company stock valued at $16,795,913 over the last ninety days. Company insiders own 0.12% of the company’s stock.

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.