Beacon Financial Group Acquires New Position in KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on Jun 16th, 2024 
Beacon Financial Group bought a new position in KLA Co. (NASDAQ:KLAC – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 387 shares of the semiconductor company’s stock, valued at approximately $225,000.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in KLA during the 4th quarter worth about $1,048,728,000. Alkeon Capital Management LLC lifted its stake in shares of KLA by 52.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock worth $530,630,000 after purchasing an additional 400,000 shares during the last quarter. TD Asset Management Inc boosted its position in KLA by 43.4% during the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in KLA by 6,309.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock valued at $145,410,000 after purchasing an additional 246,244 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of KLA during the fourth quarter valued at about $132,189,000. 86.65% of the stock is currently owned by institutional investors.
In other news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the transaction, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KLA news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the sale, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total transaction of $803,563.02. Following the completion of the transaction, the chief financial officer now directly owns 31,356 shares in the company, valued at $24,726,714.48. The disclosure for this sale can be found here. Insiders sold a total of 33,136 shares of company stock worth $24,016,781 in the last 90 days. Insiders own 0.12% of the company’s stock.
KLAC has been the subject of a number of analyst reports. Cantor Fitzgerald increased their target price on shares of KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Evercore ISI started coverage on KLA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price objective for the company. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Finally, Stifel Nicolaus increased their price objective on shares of KLA from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $740.15.
Get Our Latest Analysis on KLA
Shares of NASDAQ:KLAC opened at $824.84 on Friday. The business has a 50 day moving average of $728.78 and a two-hundred day moving average of $661.29. KLA Co. has a 12-month low of $440.15 and a 12-month high of $832.99. The company has a market capitalization of $111.06 billion, a PE ratio of 43.21, a PEG ratio of 3.95 and a beta of 1.28. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90.
KLA (NASDAQ:KLAC – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business posted $5.49 earnings per share. KLA’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts forecast that KLA Co. will post 23.3 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a dividend of $1.45 per share. The ex-dividend date was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.70%. KLA’s dividend payout ratio is currently 30.38%.
(Free Report)
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.
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