Stephens Investment Management Group LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 45.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,713 shares of the semiconductor company's stock after selling 8,856 shares during the period. Stephens Investment Management Group LLC's holdings in KLA were worth $8,296,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in KLAC. Cedar Wealth Management LLC lifted its stake in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 17 shares during the period. Family Firm Inc. acquired a new stake in shares of KLA in the 2nd quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA in the 2nd quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in shares of KLA in the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC acquired a new stake in shares of KLA in the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now directly owns 9,298 shares of the company's stock, valued at approximately $6,063,876.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company's stock, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the transaction, the executive vice president now directly owns 9,298 shares of the company's stock, valued at $6,063,876.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,873 shares of company stock valued at $14,532,193. Company insiders own 0.12% of the company's stock.
A number of brokerages have recently weighed in on KLAC. Needham & Company LLC reaffirmed a "hold" rating on shares of KLA in a research note on Thursday. Susquehanna cut their price target on shares of KLA from $680.00 to $675.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Wells Fargo & Company dropped their price target on shares of KLA from $950.00 to $870.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, StockNews.com upgraded shares of KLA from a "hold" rating to a "buy" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, KLA currently has an average rating of "Moderate Buy" and an average target price of $802.90.
Read Our Latest Research Report on KLA
NASDAQ KLAC opened at $669.38 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The firm has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.75 and a beta of 1.27. The company's fifty day moving average is $744.15 and its two-hundred day moving average is $762.89. KLA Co. has a 52-week low of $484.33 and a 52-week high of $896.32.
KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping analysts' consensus estimates of $7.03 by $0.30. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 108.40%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned $5.74 EPS. Equities research analysts forecast that KLA Co. will post 29.07 EPS for the current year.
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.
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