Cypress Asset Management Inc. TX Invests $988,000 in KLA Co. (NASDAQ:KLAC)

Cypress Asset Management Inc. TX bought a new position in shares of KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,700 shares of the semiconductor company’s stock, valued at approximately $988,000.

Other institutional investors have also modified their holdings of the company. MGO One Seven LLC boosted its position in KLA by 32.0% during the third quarter. MGO One Seven LLC now owns 767 shares of the semiconductor company’s stock worth $352,000 after purchasing an additional 186 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in KLA by 7.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 108,357 shares of the semiconductor company’s stock worth $49,699,000 after purchasing an additional 7,786 shares in the last quarter. Corient Private Wealth LLC boosted its position in KLA by 1.9% during the third quarter. Corient Private Wealth LLC now owns 36,701 shares of the semiconductor company’s stock worth $16,833,000 after purchasing an additional 693 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in KLA by 13.4% during the third quarter. EverSource Wealth Advisors LLC now owns 626 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 74 shares in the last quarter. Finally, Syon Capital LLC purchased a new stake in shares of KLA in the third quarter valued at $530,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity at KLA

In other news, CEO Richard P. Wallace sold 14,009 shares of KLA 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 transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at approximately $66,748,351.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 value of $2,272,897.45. Following the completion of the transaction, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the sale, the chief executive officer now owns 93,142 shares in the company, valued at approximately $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold a total of 24,284 shares of company stock worth $17,260,138 in the last three months. 0.12% of the stock is owned by company insiders.

KLA Stock Performance

Shares of KLA stock traded down $6.61 on Thursday, reaching $765.10. 828,322 shares of the company were exchanged, compared to its average volume of 930,003. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The company’s 50-day moving average is $698.44 and its two-hundred day moving average is $632.03. The firm has a market cap of $103.01 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 3.66 and a beta of 1.33. KLA Co. has a 1-year low of $404.80 and a 1-year high of $790.52.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping 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 prior year, the firm earned $5.49 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts expect that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, May 14th. KLA’s dividend payout ratio is currently 30.38%.

Analyst Upgrades and Downgrades

KLAC has been the topic of several recent research reports. TD Cowen upped their price objective on KLA from $650.00 to $700.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America upped their target price on KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Raymond James reiterated an “outperform” rating and issued a $750.00 target price (up from $625.00) on shares of KLA in a research note on Friday, April 26th. Finally, Cantor Fitzgerald upped their target price on KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $727.15.

KLA Profile

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.