Boyar Asset Management Inc. Invests $225,000 in KLA Co. (NASDAQ:KLAC)

Boyar Asset Management Inc. bought a new stake in KLA Co. (NASDAQ:KLAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 273 shares of the semiconductor company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KLAC. Norges Bank purchased a new stake in shares of KLA in the fourth quarter valued at about $1,048,728,000. Dakota Wealth Management purchased a new stake in KLA in the 1st quarter valued at approximately $627,399,000. Swedbank AB acquired a new stake in KLA during the 1st quarter valued at $379,678,000. Wellington Management Group LLP increased its position in KLA by 12.2% during the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after buying an additional 386,810 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after acquiring an additional 301,848 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

NASDAQ KLAC opened at $702.80 on Friday. The stock has a market capitalization of $94.62 billion, a P/E ratio of 36.82, a P/E/G ratio of 1.63 and a beta of 1.28. 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 business’s fifty day moving average is $796.54 and its two-hundred day moving average is $750.59. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company posted $5.40 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts forecast that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, August 15th. KLA’s payout ratio is 30.38%.

Insider Buying and Selling

In other KLA news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the sale, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,917 shares of company stock valued at $14,568,247. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of several analyst reports. Raymond James upped their target price on KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. The Goldman Sachs Group increased their target price on KLA from $735.00 to $838.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup lowered their price target on KLA from $990.00 to $960.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Barclays raised their price objective on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, TD Cowen boosted their target price on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Nine 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $805.29.

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.