Massmutual Trust Co. FSB ADV Reduces Holdings in KLA Co. (NASDAQ:KLAC)

Massmutual Trust Co. FSB ADV decreased its position in shares of KLA Co. (NASDAQ:KLAC) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 445 shares of the semiconductor company’s stock after selling 32 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in KLA were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Cedar Wealth Management LLC increased its position 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 worth $27,000 after purchasing an additional 17 shares during the last quarter. Family Firm Inc. bought a new stake in shares of KLA in the 2nd quarter worth about $30,000. Jones Financial Companies Lllp increased its position in shares of 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 during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the 2nd quarter worth about $44,000. Finally, LRI Investments LLC acquired a new position in shares of KLA in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Stock Up 1.7 %

KLAC stock opened at $787.39 on Friday. KLA Co. has a 52-week low of $449.35 and a 52-week high of $896.32. The company’s 50 day simple moving average is $768.54 and its 200-day simple moving average is $760.04. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The firm has a market capitalization of $106.01 billion, a P/E ratio of 41.25, a P/E/G ratio of 1.51 and a beta of 1.27.

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

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s payout ratio is presently 30.38%.

Analysts Set New Price Targets

KLAC has been the subject of several research reports. Susquehanna decreased their price target on shares of KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Evercore ISI lifted their price target on shares of KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Oppenheimer initiated coverage on shares of KLA in a report on Wednesday, September 25th. They issued a “market perform” rating and a $750.00 price target for the company. Raymond James lifted their price target on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, Wells Fargo & Company reduced their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and an average target price of $804.81.

Insider Activity at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the business’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 transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,873 shares of company stock valued at $14,532,193. Corporate 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.