Brookstone Capital Management Purchases 92 Shares of KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on Jul 2nd, 2024 
Brookstone Capital Management boosted its position in KLA Co. (NASDAQ:KLAC – Free Report) by 24.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467 shares of the semiconductor company’s stock after buying an additional 92 shares during the period. Brookstone Capital Management’s holdings in KLA were worth $326,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KLAC. Norges Bank bought a new stake in KLA in the 4th quarter valued at about $1,048,728,000. Wellington Management Group LLP increased its holdings in KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock worth $2,061,469,000 after purchasing an additional 386,810 shares in the last quarter. TD Asset Management Inc increased its holdings in KLA by 43.4% during the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock worth $580,008,000 after purchasing an additional 301,848 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in KLA by 6,309.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock worth $145,410,000 after purchasing an additional 246,244 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in KLA during the 4th quarter worth approximately $132,189,000. 86.65% of the stock is owned by institutional investors.
In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction 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 sale, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction 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 sale, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 32,105 shares in the company, valued at approximately $24,399,800. The disclosure for this sale can be found here. Insiders have sold a total of 22,861 shares of company stock worth $16,795,913 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.
NASDAQ:KLAC opened at $827.79 on Tuesday. The company has a market cap of $111.45 billion, a P/E ratio of 43.36, a P/E/G ratio of 3.94 and a beta of 1.27. The stock’s fifty day moving average price is $759.32 and its two-hundred day moving average price is $681.98. KLA Co. has a 1 year low of $440.15 and a 1 year high of $876.55. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46.
KLA (NASDAQ:KLAC – Get Free Report) last posted its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.49 earnings per share. As a group, analysts expect 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. Shareholders of record on Wednesday, May 15th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.70%. KLA’s dividend payout ratio is currently 30.38%.
A number of brokerages have commented on KLAC. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Friday, April 26th. Wells Fargo & Company boosted their price objective on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Morgan Stanley boosted their price objective on KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Susquehanna reaffirmed a “neutral” rating and issued a $675.00 target price on shares of KLA in a report on Monday, April 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $747.40.
View Our Latest Stock Report on KLAC
(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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