KLA Co. (NASDAQ:KLAC) Stock Position Cut by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc cut its holdings in shares of KLA Co. (NASDAQ:KLACGet Rating) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,602 shares of the semiconductor company’s stock after selling 393 shares during the period. KLA comprises about 3.4% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 10th biggest position. Guinness Atkinson Asset Management Inc’s holdings in KLA were worth $7,176,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Amplius Wealth Advisors LLC purchased a new stake in shares of KLA during the fourth quarter worth approximately $30,000. Delos Wealth Advisors LLC increased its stake in shares of KLA by 154.3% during the fourth quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock worth $38,000 after buying an additional 54 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of KLA by 173.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock worth $40,000 after buying an additional 59 shares during the period. Selective Wealth Management Inc. purchased a new stake in shares of KLA during the fourth quarter worth approximately $43,000. Finally, Larson Financial Group LLC increased its stake in shares of KLA by 32.7% during the fourth quarter. Larson Financial Group LLC now owns 130 shares of the semiconductor company’s stock worth $56,000 after buying an additional 32 shares during the period. Institutional investors own 87.13% of the company’s stock.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $337.02, for a total value of $343,760.40. Following the completion of the transaction, the chief financial officer now owns 64,257 shares in the company, valued at $21,655,894.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Several equities analysts have commented on the stock. Evercore ISI set a $425.00 price target on shares of KLA in a research note on Monday. KeyCorp dropped their price target on shares of KLA from $440.00 to $375.00 and set an “overweight” rating on the stock in a research note on Friday, June 17th. Morgan Stanley decreased their price objective on KLA from $400.00 to $375.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Piper Sandler decreased their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a report on Thursday, May 26th. Finally, Barclays decreased their price objective on KLA from $400.00 to $365.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $437.00.

NASDAQ:KLAC opened at $324.44 on Thursday. The stock has a fifty day moving average price of $335.47 and a two-hundred day moving average price of $364.67. The stock has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.81 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.63 and a current ratio of 2.33. KLA Co. has a 1 year low of $287.44 and a 1 year high of $457.12.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.80 by $0.33. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.20 billion. KLA had a return on equity of 78.72% and a net margin of 36.41%. KLA’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.85 earnings per share. On average, analysts predict that KLA Co. will post 20.9 EPS for the current year.

KLA declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 16th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, May 13th. KLA’s payout ratio is 20.39%.

KLA Company Profile (Get Rating)

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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