Sompo Asset Management Co. Ltd. Lowers Position in KLA Co. (NASDAQ:KLAC)

Sompo Asset Management Co. Ltd. decreased its position in KLA Co. (NASDAQ:KLAC) by 40.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,520 shares of the semiconductor company’s stock after selling 1,030 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in KLA were worth $1,253,000 at the end of the most recent quarter.

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

KLA Stock Performance

Shares of NASDAQ KLAC opened at $758.85 on Friday. The company has a market cap of $102.17 billion, a P/E ratio of 39.75, a P/E/G ratio of 1.49 and a beta of 1.28. The firm’s fifty day moving average is $772.98 and its two-hundred day moving average is $754.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. KLA Co. has a 52-week low of $440.15 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business 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 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts anticipate that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently declared 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 0.76%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 30.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on KLAC. TD Cowen lifted their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Barclays boosted their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Citigroup dropped their target price 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $950.00 target price on shares of KLA in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, KLA has an average rating of “Moderate Buy” and an average target price of $812.80.

Insider Buying and Selling at KLA

In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the business’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 sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold a total of 20,917 shares of company stock worth $14,568,247 over the last ninety days. Company insiders own 0.12% of the company’s stock.

KLA Company 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.