SVB Wealth LLC Purchases 192 Shares of KLA Co. (NASDAQ:KLAC)

SVB Wealth LLC lifted its position in KLA Co. (NASDAQ:KLAC) by 20.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,111 shares of the semiconductor company’s stock after acquiring an additional 192 shares during the period. SVB Wealth LLC’s holdings in KLA were worth $646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of KLA in the fourth quarter valued at $25,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of KLA in the fourth quarter valued at $29,000. Operose Advisors LLC bought a new position in shares of KLA in the third quarter valued at $26,000. OFI Invest Asset Management bought a new position in shares of KLA in the third quarter valued at $26,000. Finally, Cornerstone Planning Group LLC acquired a new stake in KLA during the 2nd quarter valued at $29,000. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KLAC has been the subject of several research reports. Evercore ISI initiated coverage on KLA in a report on Tuesday. They set an “outperform” rating and a $800.00 price target for the company. The Goldman Sachs Group raised their price target on KLA from $560.00 to $640.00 and gave the company a “buy” rating in a report on Friday, January 26th. UBS Group raised their price target on KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 price target for the company. Finally, TD Cowen raised their price target on KLA from $525.00 to $650.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $688.42.

KLA Stock Down 2.5 %

KLAC stock opened at $628.16 on Friday. The company has a market cap of $84.95 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 3.21 and a beta of 1.34. The business has a 50-day simple moving average of $684.19 and a 200 day simple moving average of $592.79. KLA Co. has a 52 week low of $355.88 and a 52 week high of $729.15. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 1.69.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.25. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.46 billion. KLA had a return on equity of 107.56% and a net margin of 27.98%. KLA’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.38 earnings per share. Sell-side analysts anticipate that KLA Co. will post 22.61 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, February 15th. KLA’s dividend payout ratio is presently 29.46%.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the sale, the executive vice president now directly owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

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.