Alpha Omega Wealth Management LLC Has $948,000 Stock Position in KLA Co. (NASDAQ:KLAC)

Alpha Omega Wealth Management LLC reduced its holdings in shares of KLA Co. (NASDAQ:KLAC) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,357 shares of the semiconductor company’s stock after selling 76 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in KLA were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KLAC. Lazard Asset Management LLC boosted its stake in shares of KLA by 67.7% during the 3rd quarter. Lazard Asset Management LLC now owns 41,298 shares of the semiconductor company’s stock worth $18,941,000 after acquiring an additional 16,670 shares during the period. SRS Capital Advisors Inc. boosted its stake in KLA by 22.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 470 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 86 shares during the period. Wahed Invest LLC boosted its stake in KLA by 13.9% in the 3rd quarter. Wahed Invest LLC now owns 2,253 shares of the semiconductor company’s stock valued at $1,033,000 after purchasing an additional 275 shares during the period. Shelton Capital Management boosted its stake in KLA by 27.0% in the 3rd quarter. Shelton Capital Management now owns 15,584 shares of the semiconductor company’s stock valued at $7,148,000 after purchasing an additional 3,309 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in KLA by 16.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,837 shares of the semiconductor company’s stock valued at $4,053,000 after purchasing an additional 1,239 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on KLAC shares. Bank of America boosted their price target on KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Susquehanna reiterated a “neutral” rating and set a $675.00 target price on shares of KLA in a research report on Monday, April 1st. Citigroup upped their target price on KLA from $725.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research report on Thursday, April 11th. They set a “buy” rating and a $800.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.40.

KLA Trading Up 1.2 %

Shares of NASDAQ:KLAC traded up $9.64 during midday trading on Friday, hitting $824.51. 849,376 shares of the stock were exchanged, compared to its average volume of 806,531. The business’s 50-day moving average price is $759.32 and its 200 day moving average price is $681.20. KLA Co. has a 12 month low of $440.15 and a 12 month high of $876.55. The stock has a market capitalization of $111.01 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 3.90 and a beta of 1.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14.

KLA (NASDAQ:KLAC) last announced its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business posted $5.49 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts predict that KLA Co. will post 23.3 earnings per share for the current year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, May 14th. KLA’s payout ratio is presently 30.38%.

Insider Activity at KLA

In other KLA news, 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 value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ahmad A. Khan sold 7,833 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total value of $5,953,080.00. Following the completion of the sale, the insider now directly owns 32,105 shares of the company’s stock, valued at approximately $24,399,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction 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 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. Insiders have sold 22,861 shares of company stock worth $16,795,913 over the last ninety days. Insiders own 0.12% of the company’s stock.

About KLA

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.