Insider Selling: KLA Co. (NASDAQ:KLAC) CFO Sells 7,008 Shares of Stock

KLA Co. (NASDAQ:KLAC) CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the transaction, the chief financial officer now directly owns 28,798 shares of the company’s stock, valued at $20,867,606.76. This represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

KLA Stock Performance

Shares of KLA stock opened at $673.60 on Friday. The stock’s fifty day simple moving average is $727.83 and its 200 day simple moving average is $703.04. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $89.51 billion, a PE ratio of 28.33, a PEG ratio of 1.57 and a beta of 1.30. KLA Co. has a 12 month low of $609.40 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, research analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s dividend payout ratio (DPR) is presently 28.60%.

Institutional Investors Weigh In On KLA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in KLA during the 3rd quarter worth about $29,000. Tortoise Investment Management LLC boosted its position in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC bought a new position in shares of KLA during the fourth quarter worth about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA in the 4th quarter valued at approximately $32,000. Finally, Fairfield Financial Advisors LTD lifted its stake in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 40 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLAC has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a report on Friday. Susquehanna lifted their target price on KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley upped their price target on KLA from $703.00 to $748.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price objective on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $825.39.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.