KLA Co. (NASDAQ:KLAC) is Kendall Capital Management’s 8th Largest Position

Kendall Capital Management lessened its holdings in shares of KLA Co. (NASDAQ:KLAC) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,035 shares of the semiconductor company’s stock after selling 231 shares during the period. KLA comprises approximately 1.9% of Kendall Capital Management’s holdings, making the stock its 8th largest holding. Kendall Capital Management’s holdings in KLA were worth $5,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Market Strategies LLC lifted its stake in KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after acquiring an additional 13 shares during the period. HBW Advisory Services LLC raised its holdings in KLA by 2.6% in the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after purchasing an additional 14 shares in the last quarter. TIAA Trust National Association lifted its position in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 14 shares during the period. United Community Bank boosted its stake in shares of KLA by 4.0% during the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 15 shares in the last quarter. Finally, AA Financial Advisors LLC increased its position in shares of KLA by 2.7% during the second quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 15 shares during the period. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on KLAC. Argus raised their target price on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays raised their price objective on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Susquehanna dropped their target price on shares of KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $950.00 price target on shares of KLA in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group raised their target price on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, KLA currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.80.

Insider Activity

In related news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at $11,644,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Lorig sold 44 shares of KLA stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders sold a total of 20,917 shares of company stock valued at $14,568,247 in the last 90 days. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

Shares of KLAC opened at $731.04 on Thursday. The firm has a market capitalization of $98.43 billion, a P/E ratio of 38.29, a PEG ratio of 1.49 and a beta of 1.28. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The business has a fifty day moving average of $776.57 and a 200 day moving average of $754.25.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion during 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%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.40 EPS. As a group, sell-side analysts anticipate that KLA Co. will post 29.09 EPS for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

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.