Pinnacle Wealth Planning Services Inc. Sells 19 Shares of KLA Co. (NASDAQ:KLAC)

Pinnacle Wealth Planning Services Inc. lowered its position in KLA Co. (NASDAQ:KLAC) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 725 shares of the semiconductor company’s stock after selling 19 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in KLA were worth $506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in KLA in the fourth quarter worth approximately $25,000. Frazier Financial Advisors LLC bought a new position in KLA in the fourth quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in shares of KLA in the fourth quarter valued at approximately $28,000. Addison Advisors LLC bought a new position in shares of KLA in the fourth quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KLAC. Evercore ISI began coverage on KLA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 target price on the stock. Citigroup raised their target price on KLA from $760.00 to $980.00 and gave the company a “buy” rating in a report on Monday, July 15th. Susquehanna restated a “neutral” rating and issued a $675.00 target price on shares of KLA in a report on Monday, April 1st. StockNews.com upgraded KLA from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, 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 on the stock. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $771.65.

KLA Stock Performance

Shares of NASDAQ KLAC traded down $24.51 during mid-day trading on Friday, hitting $762.55. The company had a trading volume of 918,929 shares, compared to its average volume of 741,782. The company has a market capitalization of $102.67 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 3.02 and a beta of 1.27. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The stock’s 50-day moving average price is $805.03 and its 200-day moving average price is $708.73.

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

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, May 14th. KLA’s payout ratio is 30.38%.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ahmad A. Khan sold 7,833 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total value of $5,953,080.00. Following the transaction, the insider now directly owns 32,105 shares in the company, valued at $24,399,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of the company’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 transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares in the company, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock worth $16,831,966 in the last ninety days. 0.12% of the stock is currently owned by insiders.

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.