Country Club Bank Reduces Stock Position in KLA Co. (NASDAQ:KLAC)

Country Club Bank trimmed its stake in shares of KLA Co. (NASDAQ:KLAC) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,309 shares of the semiconductor company’s stock after selling 589 shares during the period. KLA makes up 1.0% of Country Club Bank’s investment portfolio, making the stock its 22nd largest holding. Country Club Bank’s holdings in KLA were worth $15,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of KLA in the second quarter worth approximately $30,000. Cedar Wealth Management LLC boosted its stake in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of KLA during the 2nd quarter valued at $44,000. LRI Investments LLC purchased a new stake in shares of KLA in the 1st quarter worth $46,000. Finally, Olistico Wealth LLC bought a new position in KLA in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

KLAC has been the subject of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Citigroup decreased their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Susquehanna dropped their price target on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Barclays raised their price objective on shares of KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Evercore ISI upped their target price on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

KLA Stock Up 1.0 %

Shares of NASDAQ KLAC opened at $673.07 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. KLA Co. has a 12-month low of $452.01 and a 12-month high of $896.32. The firm’s 50-day moving average price is $757.70 and its 200-day moving average price is $763.21. The stock has a market capitalization of $90.18 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.40 earnings per share. On average, equities research analysts anticipate that KLA Co. will post 29.07 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 28.57%.

Insider Buying and Selling at KLA

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total value of $1,702,815.87. Following the completion of the sale, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now directly owns 9,298 shares in the company, valued at $6,063,876.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,873 shares of company stock worth $14,532,193 over the last quarter. Insiders own 0.12% of the company’s stock.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.