Frank Rimerman Advisors LLC Invests $1.27 Million in KLA Co. (NASDAQ:KLAC)

Frank Rimerman Advisors LLC purchased a new stake in KLA Co. (NASDAQ:KLAC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,535 shares of the semiconductor company’s stock, valued at approximately $1,266,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cedar Wealth Management LLC raised its holdings in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in KLA during the fourth quarter worth $28,000. Family Firm Inc. bought a new stake in KLA during the 2nd quarter valued at $30,000. Jones Financial Companies Lllp increased its holdings in shares of KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of KLA in the 2nd quarter worth $44,000. Institutional investors own 86.65% of the company’s stock.

KLA Stock Down 1.8 %

KLAC stock opened at $758.85 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The firm’s fifty day simple moving average is $772.98 and its 200-day simple moving average is $755.28. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32. The company has a market capitalization of $102.17 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.45. The company 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%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $5.40 EPS. As a group, equities research analysts forecast that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Argus lifted 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. JPMorgan Chase & Co. boosted their price objective on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James raised their target price on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Barclays upped their price target on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Citigroup lowered their price objective on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $812.80.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock valued at $14,568,247 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

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.