GLOBALT Investments LLC GA Acquires New Stake in KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on Jun 15th, 2024 
GLOBALT Investments LLC GA acquired a new stake in KLA Co. (NASDAQ:KLAC – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,877 shares of the semiconductor company’s stock, valued at approximately $2,254,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Journey Advisory Group LLC grew its holdings in KLA by 3.2% during the 4th quarter. Journey Advisory Group LLC now owns 518 shares of the semiconductor company’s stock worth $301,000 after acquiring an additional 16 shares during the period. AdvisorNet Financial Inc grew its holdings in KLA by 29.3% during the 4th quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 17 shares during the period. West Paces Advisors Inc. grew its holdings in KLA by 8.8% during the 4th quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 17 shares during the period. Drive Wealth Management LLC grew its holdings in KLA by 4.3% during the 4th quarter. Drive Wealth Management LLC now owns 507 shares of the semiconductor company’s stock worth $295,000 after acquiring an additional 21 shares during the period. Finally, MWA Asset Management grew its holdings in KLA by 3.2% during the 4th quarter. MWA Asset Management now owns 683 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 21 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were 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 of the company’s stock, valued at $24,726,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction 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 of the company’s stock, valued at $24,726,714.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,136 shares of company stock valued at $24,016,781. Corporate insiders own 0.12% of the company’s stock.
A number of analysts have weighed in on KLAC shares. Jefferies Financial Group assumed coverage on KLA in a report on Monday, May 13th. They set a “buy” rating and a $820.00 price target for the company. Wells Fargo & Company raised their target price on KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Raymond James raised 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. TD Cowen raised their target price on KLA from $650.00 to $700.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group raised their target price on KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and an average target price of $740.15.
Get Our Latest Stock Report on KLA
KLAC opened at $824.84 on Friday. 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 Co. has a 1-year low of $440.15 and a 1-year high of $832.99. The company has a market capitalization of $111.06 billion, a PE ratio of 43.21, a PEG ratio of 3.97 and a beta of 1.28. The firm’s 50 day simple moving average is $728.78 and its two-hundred day simple moving average is $660.50.
KLA (NASDAQ:KLAC – Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.49 earnings per share. As a group, equities 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. Investors of record on Wednesday, May 15th were paid 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 yield of 0.70%. KLA’s payout ratio is 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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