Cypress Asset Management Inc. TX Has $1.17 Million Holdings in KLA Co. (NASDAQ:KLAC)

Cypress Asset Management Inc. TX trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,675 shares of the semiconductor company’s stock after selling 25 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in KLA were worth $1,170,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KLAC. Fifth Third Bancorp lifted its holdings in KLA by 9.1% in the 4th quarter. Fifth Third Bancorp now owns 4,137 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 346 shares during the last quarter. AdvisorNet Financial Inc grew its stake in KLA by 29.3% in the 4th quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 17 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in KLA by 3.5% in the 4th quarter. DAVENPORT & Co LLC now owns 4,523 shares of the semiconductor company’s stock worth $2,629,000 after acquiring an additional 155 shares during the period. Trust Point Inc. acquired a new position in KLA during the 4th quarter worth $360,000. Finally, Ballentine Partners LLC boosted its holdings in KLA by 13.4% during the fourth quarter. Ballentine Partners LLC now owns 1,236 shares of the semiconductor company’s stock valued at $718,000 after acquiring an additional 146 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares in the company, valued at approximately $66,748,351.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ahmad A. Khan sold 7,833 shares of KLA stock in a transaction that occurred on 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 completion of the sale, the insider now owns 32,105 shares in the company, valued at approximately $24,399,800. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the sale, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,905 shares of company stock valued at $16,831,966. Insiders own 0.12% of the company’s stock.

KLA Price Performance

KLAC stock traded down $59.97 during trading on Friday, hitting $696.17. 2,071,281 shares of the stock traded hands, compared to its average volume of 1,064,510. The stock has a market cap of $93.73 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 1.50 and a beta of 1.27. KLA Co. has a one year low of $440.15 and a one year high of $896.32. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The company has a 50 day simple moving average of $808.65 and a 200 day simple moving average of $722.79.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $5.40 EPS. KLA’s revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, August 15th. KLA’s payout ratio is presently 30.38%.

Analyst Ratings Changes

A number of equities analysts have recently commented on KLAC shares. TD Cowen lifted their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price objective on KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Citigroup upped their target price on shares of KLA from $760.00 to $980.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Raymond James raised their price target on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Susquehanna cut their price objective on shares of KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $806.24.

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.