Frank Rimerman Advisors LLC Has $1.82 Million Position in KLA Co. (NASDAQ:KLAC)

Frank Rimerman Advisors LLC grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 53.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,355 shares of the semiconductor company’s stock after buying an additional 820 shares during the period. Frank Rimerman Advisors LLC’s holdings in KLA were worth $1,824,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Family Firm Inc. acquired a new position in KLA in the second quarter worth about $30,000. Cedar Wealth Management LLC raised its position in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA during the second quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in shares of KLA during the first quarter worth approximately $46,000. Finally, Olistico Wealth LLC acquired a new stake in shares of KLA during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling

In related news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares in the company, valued at approximately $2,749,473.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 17,437 shares of KLA 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 owns 105,329 shares in the company, valued at $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock worth $14,532,193 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Evercore ISI raised their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, Stifel Nicolaus increased their price target on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, KLA has a consensus rating of “Moderate Buy” and an average target price of $804.57.

KLA Trading Up 1.0 %

KLAC opened at $673.07 on Friday. The firm’s fifty day moving average is $757.70 and its two-hundred day moving average is $763.21. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm has a market cap of $90.18 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. KLA Co. has a twelve month low of $452.01 and a twelve month high of $896.32.

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

KLA Dividend Announcement

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

KLA Company 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.