Griffin Asset Management Inc. Reduces Holdings in KLA Co. (NASDAQ:KLAC)

Griffin Asset Management Inc. decreased its position in KLA Co. (NASDAQ:KLACGet Rating) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,460 shares of the semiconductor company’s stock after selling 83 shares during the period. Griffin Asset Management Inc.’s holdings in KLA were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Mutual Advisors LLC grew its stake in shares of KLA by 1.3% in the 4th quarter. Mutual Advisors LLC now owns 2,085 shares of the semiconductor company’s stock valued at $897,000 after buying an additional 27 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of KLA by 4.6% during the 4th quarter. Trust Co. of Toledo NA OH now owns 642 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 28 shares during the period. Clarius Group LLC boosted its position in shares of KLA by 1.5% during the 4th quarter. Clarius Group LLC now owns 1,835 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 28 shares during the period. KCS Wealth Advisory boosted its position in shares of KLA by 0.7% during the 4th quarter. KCS Wealth Advisory now owns 4,439 shares of the semiconductor company’s stock worth $1,909,000 after purchasing an additional 29 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its position in shares of KLA by 21.8% during the 4th quarter. Prestige Wealth Management Group LLC now owns 162 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 29 shares during the period. 87.13% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on KLAC. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of KLA from $475.00 to $425.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. The Goldman Sachs Group raised shares of KLA from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research report on Sunday, March 27th. Stifel Nicolaus increased their target price on shares of KLA from $450.00 to $505.00 in a report on Thursday, April 7th. KeyCorp reduced their target price on shares of KLA from $440.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, June 17th. Finally, Evercore ISI set a $425.00 target price on shares of KLA in a report on Monday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $437.00.

NASDAQ KLAC opened at $324.44 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.33 and a quick ratio of 1.63. The firm’s fifty day moving average price is $335.47 and its 200 day moving average price is $364.67. The company has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.27. KLA Co. has a 12 month low of $287.44 and a 12 month high of $457.12.

KLA (NASDAQ:KLACGet Rating) last posted its earnings results on Thursday, April 28th. The semiconductor company reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.80 by $0.33. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.20 billion. KLA had a net margin of 36.41% and a return on equity of 78.72%. The company’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the firm posted $3.85 EPS. As a group, sell-side analysts forecast that KLA Co. will post 20.9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, May 13th. KLA’s payout ratio is currently 20.39%.

KLA announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 16th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $337.02, for a total transaction of $343,760.40. Following the transaction, the chief financial officer now directly owns 64,257 shares of the company’s stock, valued at approximately $21,655,894.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

KLA Company Profile (Get Rating)

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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