Heritage Wealth Management LLC boosted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 6.7% in the 2nd quarter, Holdings Channel reports. The firm owned 4,106 shares of the semiconductor company’s stock after buying an additional 257 shares during the period. Heritage Wealth Management LLC’s holdings in KLA were worth $1,331,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its holdings in shares of KLA by 66.4% during the first quarter. UBS Asset Management Americas Inc. now owns 1,683,287 shares of the semiconductor company’s stock valued at $556,158,000 after acquiring an additional 671,773 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of KLA by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,041,578 shares of the semiconductor company’s stock valued at $1,335,337,000 after acquiring an additional 425,090 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of KLA by 49.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,189,575 shares of the semiconductor company’s stock valued at $393,034,000 after acquiring an additional 391,200 shares during the period. Rokos Capital Management LLP acquired a new stake in shares of KLA during the first quarter valued at approximately $108,371,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of KLA by 2,687.2% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 236,273 shares of the semiconductor company’s stock valued at $78,065,000 after acquiring an additional 227,796 shares during the period. 85.70% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on KLAC. Stifel Nicolaus upped their price objective on shares of KLA from $380.00 to $403.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of KLA from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Morgan Stanley upped their price objective on shares of KLA from $364.00 to $389.00 and gave the company an “equal weight” rating in a research note on Friday, July 30th. Citigroup upped their price objective on shares of KLA from $380.00 to $398.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Finally, Susquehanna Bancshares upgraded shares of KLA from a “neutral” rating to a “positive” rating and upped their price objective for the company from $380.00 to $475.00 in a research note on Tuesday, September 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $377.11.
KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 28th. The semiconductor company reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.44. KLA had a net margin of 30.04% and a return on equity of 74.13%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.87 billion. Research analysts anticipate that KLA Co. will post 19.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 16th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.18%. This is a positive change from KLA’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, August 13th. KLA’s payout ratio is currently 28.87%.
KLA declared that its Board of Directors has approved a stock repurchase program on Thursday, July 29th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other KLA news, EVP Brian Lorig sold 875 shares of KLA stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $348.16, for a total transaction of $304,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Oreste Donzella sold 136 shares of KLA stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $324.15, for a total value of $44,084.40. Following the sale, the executive vice president now directly owns 5,421 shares in the company, valued at $1,757,217.15. The disclosure for this sale can be found here. Insiders have sold 13,805 shares of company stock worth $4,736,222 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.
KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments; Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection and Other.
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