Westover Capital Advisors LLC Sells 64 Shares of KLA Co. (NASDAQ:KLAC)

Westover Capital Advisors LLC trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,289 shares of the semiconductor company’s stock after selling 64 shares during the period. Westover Capital Advisors LLC’s holdings in KLA were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KLAC. Intact Investment Management Inc. boosted its holdings in shares of KLA by 7.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System raised its position in shares of KLA by 5.9% in the 4th quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock valued at $23,059,000 after purchasing an additional 2,200 shares during the last quarter. Meritage Portfolio Management raised its position in shares of KLA by 6.8% in the 4th quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock valued at $15,478,000 after purchasing an additional 1,692 shares during the last quarter. Chico Wealth RIA raised its position in shares of KLA by 287.0% in the 4th quarter. Chico Wealth RIA now owns 3,870 shares of the semiconductor company’s stock valued at $2,250,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its position in shares of KLA by 48.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 43,484 shares of the semiconductor company’s stock valued at $25,277,000 after purchasing an additional 14,251 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

KLAC traded up $16.66 on Thursday, hitting $682.70. 339,778 shares of the company’s stock were exchanged, compared to its average volume of 957,263. The stock has a market cap of $91.92 billion, a price-to-earnings ratio of 34.89, a P/E/G ratio of 2.94 and a beta of 1.33. KLA Co. has a fifty-two week low of $369.66 and a fifty-two week high of $729.15. The firm has a 50-day moving average price of $687.50 and a 200-day moving average price of $604.86. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.49 earnings per share. As a group, equities analysts anticipate that KLA Co. will post 23.24 earnings per share for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.85%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analyst Ratings Changes

Several brokerages recently commented on KLAC. Wells Fargo & Company increased their price objective on shares of KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. TD Cowen raised their price target on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of KLA in a research report on Thursday, April 11th. They set a “buy” rating and a $800.00 price target for the company. Susquehanna reissued a “neutral” rating and set a $675.00 price target on shares of KLA in a research report on Monday, April 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target of $722.26.

Insider Transactions at KLA

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

KLA Company 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.