Creative Planning Buys 5,519 Shares of KLA Co. (NASDAQ:KLAC)

Creative Planning increased its position in shares of KLA Co. (NASDAQ:KLAC) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,771 shares of the semiconductor company’s stock after buying an additional 5,519 shares during the period. Creative Planning’s holdings in KLA were worth $29,796,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KLAC. New Mexico Educational Retirement Board increased its position in shares of KLA by 22.3% during the first quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock worth $6,133,000 after purchasing an additional 1,600 shares in the last quarter. Norden Group LLC raised its holdings in shares of KLA by 1,579.3% in the first quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after buying an additional 6,175 shares during the last quarter. Sei Investments Co. lifted its stake in shares of KLA by 16.0% during the first quarter. Sei Investments Co. now owns 76,951 shares of the semiconductor company’s stock worth $53,756,000 after buying an additional 10,594 shares during the period. Swedbank AB grew its holdings in shares of KLA by 1.0% during the second quarter. Swedbank AB now owns 548,930 shares of the semiconductor company’s stock valued at $452,598,000 after buying an additional 5,423 shares during the last quarter. Finally, Security National Bank increased its position in shares of KLA by 890.8% in the 1st quarter. Security National Bank now owns 2,477 shares of the semiconductor company’s stock valued at $1,730,000 after acquiring an additional 2,227 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 owns 9,298 shares in the company, valued at approximately $6,063,876.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value 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 approximately $2,749,473.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 9,298 shares in the company, valued at approximately $6,063,876.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is owned by corporate insiders.

KLA Price Performance

Shares of NASDAQ KLAC opened at $678.52 on Monday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm has a fifty day moving average of $770.77 and a 200 day moving average of $764.80. The firm has a market cap of $91.36 billion, a PE ratio of 35.54, a PEG ratio of 1.60 and a beta of 1.27. KLA Co. has a one year low of $452.01 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The business 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 company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.40 earnings per share. As a group, research analysts predict that KLA Co. will post 29.13 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of research reports. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company dropped their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup cut their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Oppenheimer began coverage on shares of KLA in a research note on Wednesday, September 25th. They set a “market perform” rating and a $750.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $804.57.

About KLA

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.