1832 Asset Management L.P. Has $166.22 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

1832 Asset Management L.P. lifted its holdings in KLA Co. (NASDAQ:KLAC) by 2,205.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 201,592 shares of the semiconductor company’s stock after purchasing an additional 192,849 shares during the quarter. 1832 Asset Management L.P. owned about 0.15% of KLA worth $166,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital Market Strategies LLC grew its position in shares of KLA by 1.6% in the 2nd 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 during the period. HBW Advisory Services LLC grew its position in shares of 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 purchasing an additional 14 shares during the period. TIAA Trust National Association grew its position in shares of KLA by 0.4% in 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 period. United Community Bank grew its position in shares of KLA by 4.0% in the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 15 shares during the period. Finally, AA Financial Advisors LLC boosted its position in KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 15 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on KLAC. Wells Fargo & Company upped their price target on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. TD Cowen upped their price target on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Argus upped their price target on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $812.80.

Insiders Place Their Bets

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $6,063,876.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the 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 sale, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock worth $14,568,247 in the last 90 days. Company insiders own 0.12% of the company’s stock.

KLA Stock Down 1.8 %

KLAC opened at $758.85 on Friday. 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 market cap of $102.17 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. The stock’s fifty day simple moving average is $772.98 and its 200 day simple moving average is $755.00. KLA Co. has a 1-year low of $440.15 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data 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 firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.40 EPS. As a group, research analysts expect that KLA Co. will post 29.09 earnings per share for the current year.

KLA Announces Dividend

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

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.