J.W. Cole Advisors Inc. Purchases New Stake in KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on Jul 7th, 2024 
J.W. Cole Advisors Inc. acquired a new position in shares of KLA Co. (NASDAQ:KLAC – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 312 shares of the semiconductor company’s stock, valued at approximately $218,000.
Several other institutional investors and hedge funds also recently bought and sold shares of KLAC. Cutter & CO Brokerage Inc. purchased a new position in KLA during the first quarter valued at approximately $231,000. Norden Group LLC increased its stake in shares of KLA by 19.7% in the first quarter. Norden Group LLC now owns 468 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 77 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of KLA by 25.7% during the first quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after acquiring an additional 211,227 shares in the last quarter. JLB & Associates Inc. boosted its position in KLA by 1.6% during the first quarter. JLB & Associates Inc. now owns 22,723 shares of the semiconductor company’s stock valued at $15,874,000 after purchasing an additional 367 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in KLA by 1.1% in the first quarter. HB Wealth Management LLC now owns 3,007 shares of the semiconductor company’s stock valued at $2,101,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.
KLA stock opened at $855.21 on Friday. The business has a 50 day moving average price of $777.54 and a two-hundred day moving average price of $690.54. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. KLA Co. has a 12 month low of $440.15 and a 12 month high of $876.55. The stock has a market cap of $115.15 billion, a price-to-earnings ratio of 44.80, a price-to-earnings-growth ratio of 3.38 and a beta of 1.27.
KLA (NASDAQ:KLAC – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business posted $5.49 earnings per share. KLA’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts forecast that KLA Co. will post 23.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were paid a $1.45 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a yield of 0.68%. KLA’s payout ratio is currently 30.38%.
Several brokerages have recently issued reports on KLAC. Citigroup lifted their price target on KLA from $725.00 to $760.00 and gave the company a “buy” rating in a report on Monday, April 29th. Raymond James upped their price objective on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft assumed coverage on KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 target price on the stock. Bank of America upped their price target on KLA from $740.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Friday, April 26th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average price target of $747.40.
Check Out Our Latest Analysis on KLA
In other KLA news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the sale, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the sale, the chief executive officer now owns 93,142 shares in the company, valued at $66,748,351.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the sale, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders sold 22,905 shares of company stock valued at $16,831,966 over the last quarter. Corporate insiders own 0.12% of the company’s stock.
(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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