Geneva Partners LLC Sells 453 Shares of KLA Co. (NASDAQ:KLAC)

Geneva Partners LLC lessened its stake in KLA Co. (NASDAQ:KLAC) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,344 shares of the semiconductor company’s stock after selling 453 shares during the quarter. KLA accounts for approximately 2.4% of Geneva Partners LLC’s holdings, making the stock its 14th biggest position. Geneva Partners LLC’s holdings in KLA were worth $4,269,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in KLA in the 4th quarter worth about $25,000. Resurgent Financial Advisors LLC purchased a new position in KLA in the 4th quarter worth about $25,000. OFI Invest Asset Management purchased a new position in KLA in the 3rd quarter worth about $26,000. Operose Advisors LLC purchased a new position in KLA in the 3rd quarter worth about $26,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of KLA during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other KLA news, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction on Monday, March 25th. The stock was 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 owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of NASDAQ KLAC traded down $16.06 during midday trading on Friday, reaching $628.16. 1,072,551 shares of the stock traded hands, compared to its average volume of 962,979. The company’s 50 day moving average is $684.19 and its 200 day moving average is $592.79. KLA Co. has a one year low of $355.88 and a one year high of $729.15. The stock has a market capitalization of $84.95 billion, a PE ratio of 31.90, a P/E/G ratio of 3.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.91 and a quick ratio of 1.25.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share for the quarter, beating the consensus estimate of $5.91 by $0.25. KLA had a return on equity of 107.56% and a net margin of 27.98%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm posted $7.38 EPS. KLA’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that KLA Co. will post 22.61 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $1.45 dividend. The ex-dividend date was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.92%. KLA’s payout ratio is 29.46%.

Wall Street Analyst Weigh In

KLAC has been the subject of several research reports. Berenberg Bank upped their price target on shares of KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Susquehanna reiterated a “neutral” rating and set a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. TD Cowen boosted their price objective on KLA from $525.00 to $650.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Raymond James boosted their price objective on KLA from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $688.42.

About KLA

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.