Berkshire Bank Invests $226,000 in KLA Co. (NASDAQ:KLAC)

Berkshire Bank acquired a new position in KLA Co. (NASDAQ:KLACFree Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 324 shares of the semiconductor company’s stock, valued at approximately $226,000.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of KLA in the 4th quarter worth approximately $25,000. Operose Advisors LLC purchased a new position in shares of KLA in the 3rd quarter valued at approximately $26,000. Frazier Financial Advisors LLC purchased a new position in shares of KLA in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new position in shares of KLA in the 4th quarter valued at approximately $28,000. Finally, Addison Advisors LLC purchased a new position in shares of KLA in the 4th quarter valued at approximately $29,000. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Down 1.0 %

Shares of KLA stock traded down $7.66 on Tuesday, reaching $765.14. The company’s stock had a trading volume of 703,644 shares, compared to its average volume of 931,117. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. KLA Co. has a 52 week low of $404.80 and a 52 week high of $778.43. The company has a market capitalization of $103.02 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 3.18 and a beta of 1.33. The firm’s fifty day simple moving average is $696.78 and its two-hundred day simple moving average is $631.04.

KLA (NASDAQ:KLACGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. KLA’s revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that KLA Co. will post 23.3 earnings per share for the current year.

KLA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, May 14th. KLA’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling at KLA

In other KLA news, 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 transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other KLA news, 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 transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The transaction 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 business’s stock in a transaction dated 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 owns 16,922 shares in the company, valued at $11,809,017.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,284 shares of company stock valued at $17,260,138. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research analyst reports. Raymond James restated an “outperform” rating and issued a $750.00 target price (up previously from $625.00) on shares of KLA in a research note on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Bank of America raised 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. Cantor Fitzgerald raised 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. Finally, Jefferies Financial Group initiated coverage on KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $727.15.

Read Our Latest Report on KLAC

KLA Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Co. (NASDAQ:KLACFree Report).

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

Receive News & Ratings for KLA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA and related companies with MarketBeat.com's FREE daily email newsletter.