SageView Advisory Group LLC Invests $360000 in KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on May 28th, 2024 
SageView Advisory Group LLC purchased a new position in KLA Co. (NASDAQ:KLAC – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 605 shares of the semiconductor company’s stock, valued at approximately $360,000.
Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in KLA by 6.4% in the third quarter. Wellington Management Group LLP now owns 3,159,498 shares of the semiconductor company’s stock worth $1,449,135,000 after acquiring an additional 190,355 shares during the period. Norges Bank purchased a new stake in shares of KLA in the 4th quarter worth about $1,048,728,000. Northern Trust Corp boosted its stake in KLA by 3.5% during the third quarter. Northern Trust Corp now owns 1,598,677 shares of the semiconductor company’s stock worth $733,249,000 after acquiring an additional 54,472 shares in the last quarter. Invesco Ltd. grew its holdings in KLA by 12.7% in the third quarter. Invesco Ltd. now owns 1,365,784 shares of the semiconductor company’s stock worth $626,431,000 after purchasing an additional 153,752 shares during the period. Finally, Morgan Stanley increased its stake in shares of KLA by 10.2% during the third quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock valued at $581,496,000 after purchasing an additional 117,584 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.
In related news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now directly owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction 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 $66,748,351.46. 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. 0.12% of the stock is currently owned by company insiders.
Shares of KLAC opened at $779.06 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The business has a fifty day moving average of $703.57 and a 200 day moving average of $638.61. The company has a market cap of $104.89 billion, a PE ratio of 40.81, a P/E/G ratio of 3.73 and a beta of 1.33. KLA Co. has a 52-week low of $418.12 and a 52-week high of $790.52.
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 the consensus estimate of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $5.49 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts expect that KLA Co. will post 23.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.74%. KLA’s dividend payout ratio (DPR) is 30.38%.
KLAC has been the topic of a number of research reports. Jefferies Financial Group began coverage on shares of KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective on the stock. Susquehanna reiterated a “neutral” rating and set a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. Citigroup lifted their price target on shares of KLA from $725.00 to $760.00 and gave the company a “buy” rating in a report on Monday, April 29th. Bank of America lifted their target price on shares of KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Cantor Fitzgerald increased their price target on KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $727.15.
Read Our Latest Stock Report on KLA
(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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