Boltwood Capital Management Decreases Stake in KLA Co. (NASDAQ:KLAC)


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Boltwood Capital Management reduced its position in KLA Co. (NASDAQ:KLAC) by 15.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,965 shares of the semiconductor company’s stock after selling 1,085 shares during the period. Boltwood Capital Management’s holdings in KLA were worth $1,971,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in KLA in the 4th quarter valued at about $25,000. Sittner & Nelson LLC purchased a new position in KLA in the 4th quarter valued at about $33,000. Birchcreek Wealth Management LLC purchased a new position in KLA in the 4th quarter valued at about $34,000. First Horizon Advisors Inc. boosted its position in KLA by 34.3% in the 4th quarter. First Horizon Advisors Inc. now owns 141 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 36 shares during the last quarter. Finally, HM Payson & Co. raised its stake in shares of KLA by 390.6% in the 3rd quarter. HM Payson & Co. now owns 157 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

KLAC has been the topic of a number of recent analyst reports. Credit Suisse Group upped their target price on shares of KLA from $240.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, February 2nd. Argus upped their target price on shares of KLA from $235.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Citigroup upped their target price on shares of KLA from $236.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, January 25th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, February 5th. Finally, Morgan Stanley upped their target price on shares of KLA from $263.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, February 4th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. KLA has an average rating of “Buy” and a consensus target price of $273.50.

In other news, CEO Richard P. Wallace sold 4,216 shares of the stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $301.60, for a total value of $1,271,545.60. Following the completion of the transaction, the chief executive officer now directly owns 76,906 shares in the company, valued at $23,194,849.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Oreste Donzella sold 1,287 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $300.90, for a total transaction of $387,258.30. Following the completion of the transaction, the executive vice president now owns 5,599 shares of the company’s stock, valued at $1,684,739.10. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Shares of NASDAQ:KLAC traded up $2.42 during trading hours on Thursday, hitting $350.46. The stock had a trading volume of 13,652 shares, compared to its average volume of 1,391,388. The stock’s fifty day simple moving average is $312.36 and its 200 day simple moving average is $264.40. KLA Co. has a 1-year low of $146.91 and a 1-year high of $359.69. The firm has a market capitalization of $54.00 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.92 and a current ratio of 2.72.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Tuesday, February 2nd. The semiconductor company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.19 by $0.05. KLA had a net margin of 21.76% and a return on equity of 65.49%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business earned $2.66 earnings per share. KLA’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that KLA Co. will post 12.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 2nd. Stockholders of record on Friday, February 19th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 18th. KLA’s dividend payout ratio (DPR) is presently 34.78%.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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