Pathway Financial Advisers LLC Sells 17 Shares of KLA Co. (NASDAQ:KLAC)

Pathway Financial Advisers LLC cut its holdings in KLA Co. (NASDAQ:KLAC) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,466 shares of the semiconductor company’s stock after selling 17 shares during the period. Pathway Financial Advisers LLC’s holdings in KLA were worth $1,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC grew its holdings in KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. Family Firm Inc. purchased a new position in KLA during the 2nd quarter valued at $30,000. Jones Financial Companies Lllp raised its holdings in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 61 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in KLA in the second quarter worth about $44,000. Finally, LRI Investments LLC purchased a new position in shares of KLA in the 1st quarter valued at approximately $45,000. Institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In other KLA news, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s stock in a transaction on Monday, August 5th. The shares were 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 of the company’s stock, valued at $6,063,876.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the firm’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 sale, 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 can be accessed through the SEC website. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the company’s 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 transaction, the executive vice president now owns 9,298 shares of the company’s stock, valued at $6,063,876.66. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock worth $14,532,193 over the last quarter. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

KLAC has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays lifted their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Susquehanna decreased their target price on KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Evercore ISI lifted their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price target on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $808.62.

KLA Stock Down 1.0 %

Shares of NASDAQ:KLAC opened at $774.41 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The business’s 50 day moving average is $768.96 and its 200 day moving average is $758.65. The stock has a market cap of $104.27 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. KLA Co. has a 52-week low of $448.31 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.40 EPS. Sell-side analysts predict that KLA Co. will post 29.09 EPS for the current year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $1.45 per share. 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 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.