KLA Co. (NASDAQ:KLAC) Shares Purchased by Hollencrest Capital Management

Hollencrest Capital Management raised its holdings in KLA Co. (NASDAQ:KLAC) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,641 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the quarter. Hollencrest Capital Management’s holdings in KLA were worth $3,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in shares of KLA in the second quarter worth about $30,000. Cedar Wealth Management LLC increased its stake 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. Frazier Financial Advisors LLC acquired a new position in KLA in the 4th quarter worth about $26,000. DSM Capital Partners LLC acquired a new stake in KLA in the fourth quarter valued at approximately $28,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of KLA in the second quarter valued at approximately $44,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

KLA Trading Up 5.7 %

NASDAQ KLAC opened at $772.43 on Friday. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32. The stock has a market capitalization of $104.00 billion, a P/E ratio of 40.46, a PEG ratio of 1.49 and a beta of 1.28. The firm’s 50-day moving average is $774.96 and its two-hundred day moving average is $754.38. 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 (NASDAQ:KLAC) last released its quarterly 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. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm earned $5.40 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio (DPR) is currently 30.38%.

Analysts Set New Price Targets

A number of research firms recently issued reports on KLAC. TD Cowen lifted their price target on shares of KLA from $700.00 to $760.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. UBS Group dropped their target price on shares of KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company upped their price target on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. lifted their price objective on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Evercore ISI increased their target price on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $812.80.

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.