Chico Wealth RIA Trims Stock Holdings in KLA Co. (NASDAQ:KLAC)

Chico Wealth RIA lessened its position in shares of KLA Co. (NASDAQ:KLAC) by 5.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,645 shares of the semiconductor company’s stock after selling 225 shares during the period. KLA accounts for 2.4% of Chico Wealth RIA’s holdings, making the stock its 5th biggest holding. Chico Wealth RIA’s holdings in KLA were worth $2,546,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of KLA during the fourth quarter valued at about $25,000. Frazier Financial Advisors LLC bought a new stake in shares of KLA during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new position in shares of KLA during the fourth quarter worth approximately $28,000. Addison Advisors LLC bought a new position in shares of KLA in the 4th quarter worth $29,000. Finally, Jones Financial Companies Lllp grew its position in KLA by 2,033.3% in the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 61 shares during the period. Institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total transaction of $803,563.02. Following the transaction, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total transaction of $803,563.02. Following the transaction, the chief financial officer now directly owns 31,356 shares of the company’s stock, valued at $24,726,714.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ahmad A. Khan sold 7,833 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the transaction, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The disclosure for this sale can be found here. Insiders sold 22,861 shares of company stock worth $16,795,913 in the last quarter. 0.12% of the stock is owned by insiders.

KLA Price Performance

Shares of KLAC stock traded up $2.87 during trading on Monday, hitting $827.38. The company had a trading volume of 274,796 shares, compared to its average volume of 903,778. KLA Co. has a 52 week low of $440.15 and a 52 week high of $876.55. The stock has a market capitalization of $111.40 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 3.94 and a beta of 1.27. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The stock’s 50-day moving average is $759.32 and its two-hundred day moving average is $681.98.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $5.49 EPS. As a group, analysts predict that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a dividend of $1.45 per share. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.70%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KLAC shares. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Wells Fargo & Company increased their target price on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Jefferies Financial Group assumed coverage on shares of KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price target on the stock. Evercore ISI began coverage on KLA in a report on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price objective for the company. Finally, Bank of America boosted their target price on KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $747.40.

About KLA

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.