Heritage Wealth Management Inc. Buys New Shares in KLA Co. (NASDAQ:KLAC)

Heritage Wealth Management Inc. bought a new stake in KLA Co. (NASDAQ:KLAC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,263 shares of the semiconductor company’s stock, valued at approximately $1,935,000.

A number of other institutional investors have also recently bought and sold shares of KLAC. Swedbank AB purchased a new stake in KLA in the first quarter valued at approximately $379,678,000. Wellington Management Group LLP grew its holdings in KLA by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares during the period. Van ECK Associates Corp grew its holdings in KLA by 25.7% in the first quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock valued at $720,936,000 after purchasing an additional 211,227 shares during the period. 1832 Asset Management L.P. grew its holdings in KLA by 2,205.8% in the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock valued at $166,215,000 after purchasing an additional 192,849 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in KLA by 136.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 309,546 shares of the semiconductor company’s stock valued at $214,667,000 after purchasing an additional 178,474 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 report on Thursday, July 25th. UBS Group reduced their price target 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. Susquehanna reduced their price target on shares of KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Barclays lifted their price target on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Citigroup reduced their price target on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $808.62.

KLA Stock Down 2.7 %

Shares of NASDAQ:KLAC opened at $753.69 on Wednesday. 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 company has a fifty day simple moving average of $767.88 and a 200 day simple moving average of $759.14. The firm has a market cap of $101.48 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. KLA Co. has a 12-month low of $448.31 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (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 analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.40 earnings per share. On average, equities research analysts anticipate that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.77%. KLA’s payout ratio is 30.38%.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The disclosure for this sale can be found here. Insiders sold a total of 20,873 shares of company stock worth $14,532,193 over the last 90 days. Insiders own 0.12% of the company’s stock.

KLA 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.