Intech Investment Management LLC Sells 3,045 Shares of KLA Co. (NASDAQ:KLAC)

Intech Investment Management LLC decreased its holdings in KLA Co. (NASDAQ:KLAC) by 39.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,761 shares of the semiconductor company’s stock after selling 3,045 shares during the period. Intech Investment Management LLC’s holdings in KLA were worth $3,925,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KLAC. Capital Market Strategies LLC boosted its stake in KLA by 1.6% in the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the period. HBW Advisory Services LLC boosted its position in shares of KLA by 2.6% during the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 14 shares during the last quarter. TIAA Trust National Association grew its stake in KLA by 0.4% during the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares in the last quarter. United Community Bank grew its stake in KLA by 4.0% during the first quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 15 shares in the last quarter. Finally, AA Financial Advisors LLC lifted its stake in KLA by 2.7% in the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KLAC. Wells Fargo & Company raised their price objective on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. The Goldman Sachs Group lifted their price objective on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Argus increased their target price on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $950.00 price target on shares of KLA in a research report on Thursday, July 25th. Finally, UBS Group lowered their price objective on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and a consensus price target of $812.80.

KLA Stock Down 1.8 %

NASDAQ:KLAC opened at $758.85 on Friday. The company has a market cap of $102.17 billion, a price-to-earnings ratio of 39.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. KLA Co. has a twelve month low of $440.15 and a twelve month high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock has a fifty day simple moving average of $772.98 and a 200-day simple moving average of $755.00.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.45. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $5.40 EPS. Analysts anticipate that KLA Co. will post 29.09 EPS for the current year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.76%. KLA’s payout ratio is currently 30.38%.

Insider Buying and Selling at KLA

In other news, EVP Brian Lorig sold 44 shares of the firm’s 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 owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other KLA news, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction dated 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 owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 approximately $6,063,876.66. 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 ninety days. Corporate insiders own 0.12% of the company’s stock.

About KLA

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.