Janney Montgomery Scott LLC Sells 857 Shares of KLA Co. (NASDAQ:KLAC)

Janney Montgomery Scott LLC lessened its position in shares of KLA Co. (NASDAQ:KLAC) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,965 shares of the semiconductor company’s stock after selling 857 shares during the quarter. Janney Montgomery Scott LLC owned 0.06% of KLA worth $61,152,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Cedar Wealth Management LLC lifted its stake in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. Family Firm Inc. purchased a new stake in KLA during the second quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new position in KLA in the second quarter worth approximately $44,000. LRI Investments LLC purchased a new position in shares of KLA during the 1st quarter worth $45,000. Finally, Olistico Wealth LLC bought a new stake in shares of KLA during the 2nd quarter valued at $53,000. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KLAC shares. Barclays decreased their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday. TD Cowen reduced their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup cut their price target on KLA from $960.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Evercore ISI boosted their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $802.90.

Insider Activity

In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Virendra A. Kirloskar sold 825 shares of the firm’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 approximately $2,749,473.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,873 shares of company stock valued at $14,532,193. 0.12% of the stock is currently owned by insiders.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $669.38 on Friday. The firm has a fifty day simple moving average of $744.15 and a two-hundred day simple moving average of $763.38. The company has a quick ratio of 1.50, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $89.68 billion, a P/E ratio of 30.57, a PEG ratio of 1.67 and a beta of 1.29. KLA Co. has a 52 week low of $484.33 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the firm posted $5.74 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts expect that KLA Co. will post 29.26 earnings per share for the current fiscal year.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.