PNC Financial Services Group Inc. Has $9.99 Million Position in KLA Co. (NASDAQ:KLAC)

PNC Financial Services Group Inc. trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,193 shares of the semiconductor company’s stock after selling 526 shares during the quarter. PNC Financial Services Group Inc.’s holdings in KLA were worth $9,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KLAC. BI Asset Management Fondsmaeglerselskab A S grew its holdings in KLA by 11.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 69,471 shares of the semiconductor company’s stock worth $40,383,000 after acquiring an additional 7,397 shares during the last quarter. Norges Bank bought a new stake in shares of KLA in the fourth quarter worth $1,048,728,000. Prestige Wealth Management Group LLC increased its holdings in KLA by 7.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 404 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 27 shares during the period. Independent Advisor Alliance raised its position in KLA by 2.0% during the 4th quarter. Independent Advisor Alliance now owns 2,416 shares of the semiconductor company’s stock worth $1,404,000 after purchasing an additional 48 shares during the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in KLA by 10.2% during the 4th quarter. Financial Advocates Investment Management now owns 705 shares of the semiconductor company’s stock worth $410,000 after buying an additional 65 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KLAC shares. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research report on Thursday, April 11th. They set a “buy” rating and a $800.00 price objective for the company. Morgan Stanley boosted their price target on shares of KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Jefferies Financial Group assumed coverage on shares of KLA in a research report on Monday, May 13th. They set a “buy” rating and a $820.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of KLA from $685.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Berenberg Bank increased their price target on KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $727.15.

Insider Activity

In other KLA news, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the sale, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Oreste Donzella sold 3,257 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the sale, the executive vice president now owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the sale, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The disclosure for this sale can be found here. Insiders sold a total of 24,284 shares of company stock worth $17,260,138 over the last quarter. Insiders own 0.12% of the company’s stock.

KLA Stock Performance

KLAC opened at $771.71 on Thursday. KLA Co. has a 1-year low of $404.80 and a 1-year high of $778.43. The company has a market cap of $103.90 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 3.66 and a beta of 1.33. The company’s fifty day moving average price is $698.44 and its two-hundred day moving average price is $632.03. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90.

KLA (NASDAQ:KLAC) last posted its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.49 EPS. On average, analysts expect that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $1.45 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.75%. KLA’s payout ratio is 30.38%.

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.