Lifestyle Asset Management Inc. Makes New Investment in KLA Co. (NASDAQ:KLAC)

Lifestyle Asset Management Inc. bought a new stake in KLA Co. (NASDAQ:KLAC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 303 shares of the semiconductor company’s stock, valued at approximately $212,000.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of KLA in the 4th quarter worth $25,000. Frazier Financial Advisors LLC acquired a new position in KLA during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new stake in KLA during the fourth quarter worth approximately $28,000. Addison Advisors LLC purchased a new position in shares of KLA in the 4th quarter valued at $29,000. Finally, Jones Financial Companies Lllp boosted its position in KLA by 2,033.3% during the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 61 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of NASDAQ:KLAC traded up $14.22 during trading on Wednesday, reaching $853.33. The stock had a trading volume of 440,454 shares, compared to its average volume of 898,864. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The stock has a fifty day simple moving average of $770.95 and a two-hundred day simple moving average of $686.67. The firm has a market capitalization of $114.89 billion, a price-to-earnings ratio of 44.70, a P/E/G ratio of 3.94 and a beta of 1.27. KLA Co. has a 52 week low of $440.15 and a 52 week high of $876.55.

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

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 14th. KLA’s payout ratio is presently 30.38%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KLAC shares. Evercore ISI assumed coverage on shares of KLA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price objective for the company. Morgan Stanley boosted their price objective on shares of KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Jefferies Financial Group assumed coverage on KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 target price for the company. Stifel Nicolaus boosted their price target on KLA from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James increased their price target on KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average target price of $747.40.

Insider Activity

In related news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total value of $10,039,269.67. Following 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the sale, the executive vice president now owns 14,211 shares in the company, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of the 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 sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,905 shares of company stock worth $16,831,966. Company 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.