Sound Income Strategies LLC Buys 307 Shares of KLA Co. (NASDAQ:KLAC)

Sound Income Strategies LLC increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 2,046.7% in the second quarter, Holdings Channel.com reports. The firm owned 322 shares of the semiconductor company’s stock after buying an additional 307 shares during the quarter. Sound Income Strategies LLC’s holdings in KLA were worth $265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in shares of KLA during the fourth quarter worth about $26,000. Cedar Wealth Management LLC grew its holdings in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. DSM Capital Partners LLC acquired a new position in KLA in the 4th quarter valued at approximately $28,000. Addison Advisors LLC bought a new position in shares of KLA during the fourth quarter valued at $29,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of KLA by 2,033.3% during the fourth 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. Institutional investors own 86.65% of the company’s stock.

KLA Stock Down 0.7 %

Shares of NASDAQ:KLAC traded down $5.51 during trading on Friday, reaching $746.78. 763,594 shares of the stock were exchanged, compared to its average volume of 935,573. KLA Co. has a 1-year low of $440.15 and a 1-year high of $896.32. The stock has a fifty day moving average of $803.64 and a two-hundred day moving average of $728.14. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The firm has a market cap of $100.55 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.40 earnings per share. Research analysts anticipate that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, August 15th. KLA’s dividend payout ratio is currently 30.38%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KLAC shares. Stifel Nicolaus increased their price objective on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley raised their price objective on KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Susquehanna decreased their target price on shares of KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen boosted their price target on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $805.29.

Insider Transactions at KLA

In other KLA news, EVP Brian Lorig sold 44 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Ahmad A. Khan sold 7,833 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders sold a total of 29,769 shares of company stock valued at $21,324,890 over the last ninety days. 0.12% of the stock is currently owned by insiders.

KLA 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.