Pinnacle Wealth Management Advisory Group LLC Has $836,000 Position in KLA Co. (NASDAQ:KLAC)

Pinnacle Wealth Management Advisory Group LLC lowered its holdings in KLA Co. (NASDAQ:KLAC) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,580 shares of the semiconductor company’s stock after selling 65 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in KLA were worth $836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of KLAC. Commonwealth Equity Services LLC boosted its stake in KLA by 23.2% in the first quarter. Commonwealth Equity Services LLC now owns 12,397 shares of the semiconductor company’s stock worth $4,096,000 after purchasing an additional 2,337 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in KLA by 25.6% in the first quarter. Cullen Frost Bankers Inc. now owns 12,909 shares of the semiconductor company’s stock worth $4,265,000 after purchasing an additional 2,630 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of KLA by 1,005.1% during the first quarter. Los Angeles Capital Management LLC now owns 52,504 shares of the semiconductor company’s stock worth $17,347,000 after acquiring an additional 47,753 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of KLA by 1.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 47,503 shares of the semiconductor company’s stock worth $15,695,000 after acquiring an additional 647 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its position in shares of KLA by 10.9% during the first quarter. Bridges Investment Management Inc. now owns 2,878 shares of the semiconductor company’s stock worth $951,000 after acquiring an additional 283 shares during the last quarter. 85.70% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on KLAC shares. KeyCorp restated a “buy” rating and set a $369.00 target price on shares of KLA in a research report on Thursday, June 10th. Morgan Stanley boosted their target price on KLA from $364.00 to $389.00 and gave the stock an “equal weight” rating in a research report on Friday, July 30th. Susquehanna Bancshares upgraded KLA from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $380.00 to $475.00 in a research report on Tuesday. Susquehanna upgraded KLA from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $380.00 to $475.00 in a research report on Tuesday. Finally, Needham & Company LLC upgraded KLA from a “hold” rating to a “buy” rating and set a $390.00 price objective for the company in a report on Friday, July 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $364.61.

KLAC stock opened at $356.39 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.71 and a quick ratio of 1.96. The stock has a market capitalization of $54.43 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.30 and a beta of 1.21. The business has a 50-day moving average of $329.26 and a 200-day moving average of $320.40. KLA Co. has a fifty-two week low of $174.70 and a fifty-two week high of $364.79.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, July 28th. The semiconductor company reported $4.43 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.44. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KLA had a return on equity of 74.13% and a net margin of 30.04%. Equities analysts expect that KLA Co. will post 19.3 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 16th were given a dividend of $1.05 per share. The ex-dividend date was Friday, August 13th. This is a boost from KLA’s previous quarterly dividend of $0.90. This represents a $4.20 annualized dividend and a yield of 1.18%. KLA’s dividend payout ratio is 28.87%.

KLA declared that its Board of Directors has authorized a share buyback program on Thursday, July 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other KLA news, CFO Bren D. Higgins sold 6,617 shares of the company’s stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $335.92, for a total value of $2,222,782.64. Following the sale, the chief financial officer now owns 6,827 shares in the company, valued at $2,293,325.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Oreste Donzella sold 136 shares of the stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $324.15, for a total value of $44,084.40. Following the transaction, the executive vice president now owns 5,421 shares in the company, valued at approximately $1,757,217.15. The disclosure for this sale can be found here. Insiders have sold 13,805 shares of company stock valued at $4,736,222 over the last three months. Insiders own 0.16% of the company’s stock.

About KLA

KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. Its products include manufactured chips, reticle, packaging, surface profilers, nanochemical testers, KT pro equipment, and compound semiconductors. The company was founded in April 1997 and is headquartered in Milpitas, CA.

Featured Story: What is a Candlestick Chart?

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Co. (NASDAQ:KLAC).

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

Receive News & Ratings for KLA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA and related companies with MarketBeat.com's FREE daily email newsletter.