KLA Co. (NASDAQ:KLAC) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255 shares of the semiconductor company’s stock after selling 36 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in KLA were worth $210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KLAC. Privium Fund Management UK Ltd lifted its position in KLA by 84.5% during the 2nd quarter. Privium Fund Management UK Ltd now owns 1,282 shares of the semiconductor company’s stock worth $1,076,000 after acquiring an additional 587 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of KLA during the second quarter worth about $396,000. Generate Investment Management Ltd purchased a new stake in KLA in the second quarter valued at approximately $3,489,000. TIAA Trust National Association increased its holdings in KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after buying an additional 14 shares during the period. Finally, Private Wealth Strategies L.L.C. purchased a new position in KLA during the 2nd quarter worth approximately $419,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

KLAC stock opened at $741.43 on Wednesday. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The firm has a market capitalization of $99.83 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. 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 business has a 50 day simple moving average of $802.07 and a 200-day simple moving average of $750.49.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping 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 business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $5.40 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KLAC. Cantor Fitzgerald reiterated a “neutral” rating and issued a $950.00 price objective on shares of KLA in a research note on Thursday, July 25th. Susquehanna cut their price target on KLA from $730.00 to $680.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Jefferies Financial Group began coverage on KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective for the company. Raymond James upped their target price on KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $805.29.

Insider Buying and Selling

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the sale, the chief accounting officer now directly owns 4,231 shares in the company, valued at $2,749,473.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,917 shares of company stock worth $14,568,247. Company insiders own 0.12% of the company’s stock.

About KLA

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.