Tidal Investments LLC Increases Stock Holdings in KLA Co. (NASDAQ:KLAC)

Tidal Investments LLC boosted its position in shares of KLA Co. (NASDAQ:KLAC) by 9.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,824 shares of the semiconductor company’s stock after acquiring an additional 577 shares during the quarter. Tidal Investments LLC’s holdings in KLA were worth $4,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in KLA by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,112,261 shares of the semiconductor company’s stock valued at $9,159,832,000 after purchasing an additional 76,226 shares in the last quarter. Wellington Management Group LLP raised its position in KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in KLA by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,618,709 shares of the semiconductor company’s stock valued at $1,829,352,000 after purchasing an additional 71,289 shares in the last quarter. Norges Bank acquired a new stake in KLA in the 4th quarter valued at about $1,048,728,000. Finally, Van ECK Associates Corp raised its position in shares of KLA by 25.7% during the 1st quarter. Van ECK Associates Corp now owns 1,032,017 shares of the semiconductor company’s stock worth $720,936,000 after acquiring an additional 211,227 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KLA

In related news, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction on 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 transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Ahmad A. Khan sold 7,833 shares of KLA stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the completion of the transaction, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 14,009 shares of KLA stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,905 shares of company stock worth $16,831,966 over the last three months. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KLAC has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Friday, April 26th. Evercore ISI raised their target price on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group initiated coverage on KLA in a research report on Monday, May 13th. They set a “buy” rating and a $820.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $950.00 target price on shares of KLA in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $806.24.

KLA Price Performance

Shares of KLA stock traded down $55.72 during trading on Friday, reaching $700.42. The company’s stock had a trading volume of 321,698 shares, compared to its average volume of 916,510. 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 Co. has a 12-month low of $440.15 and a 12-month high of $896.32. The company has a market capitalization of $94.30 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. The business has a 50 day moving average price of $810.31 and a 200-day moving average price of $721.85.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $5.40 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that KLA Co. will post 29.09 EPS for the current year.

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.