Lincoln Capital Corp Lowers Stock Position in KLA Co. (NASDAQ:KLAC)

Lincoln Capital Corp cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 5.2% in the third quarter, Holdings Channel.com reports. The fund owned 365 shares of the semiconductor company’s stock after selling 20 shares during the period. Lincoln Capital Corp’s holdings in KLA were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KLAC. Family Firm Inc. acquired a new position in KLA during the 2nd quarter worth about $30,000. Cedar Wealth Management LLC grew its holdings in shares of KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 17 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of KLA in the second quarter valued at approximately $44,000. LRI Investments LLC purchased a new stake in KLA during the 1st quarter worth approximately $46,000. Finally, Olistico Wealth LLC acquired a new stake in KLA during the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KLA

In other news, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. 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 this hyperlink. In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value of $536,118.00. Following the completion of the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. This trade 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 have sold 20,873 shares of company stock valued at $14,532,193. 0.12% of the stock is owned by company insiders.

KLA Stock Performance

NASDAQ KLAC opened at $673.07 on Friday. The firm has a market cap of $90.18 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. KLA Co. has a 52-week low of $452.01 and a 52-week high of $896.32. The business’s 50-day moving average price is $757.70 and its 200 day moving average price is $763.21. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the business posted $5.40 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that KLA Co. will post 29.07 earnings per share for the current year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.86%. KLA’s dividend payout ratio (DPR) is 28.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Susquehanna reduced their price target on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Oppenheimer assumed coverage on shares of KLA in a research note on Wednesday, September 25th. They set a “market perform” rating and a $750.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $804.57.

About KLA

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.