Assenagon Asset Management S.A. Sells 21,607 Shares of KLA Co. (NASDAQ:KLAC)

Assenagon Asset Management S.A. decreased its position in shares of KLA Co. (NASDAQ:KLACGet Rating) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,961 shares of the semiconductor company’s stock after selling 21,607 shares during the quarter. Assenagon Asset Management S.A. owned 0.21% of KLA worth $115,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KLAC. Amplius Wealth Advisors LLC bought a new stake in KLA during the fourth quarter worth about $30,000. Delos Wealth Advisors LLC lifted its holdings in shares of KLA by 154.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 54 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of KLA by 173.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 59 shares during the last quarter. Selective Wealth Management Inc. bought a new position in shares of KLA in the fourth quarter worth about $43,000. Finally, DeDora Capital Inc. bought a new position in shares of KLA in the first quarter worth about $55,000. 87.13% of the stock is owned by institutional investors and hedge funds.

In other KLA news, CFO Bren D. Higgins sold 1,020 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was 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 in the company, valued at approximately $21,655,894.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

NASDAQ:KLAC opened at $296.26 on Tuesday. The company has a market capitalization of $44.21 billion, a PE ratio of 14.38, a P/E/G ratio of 0.72 and a beta of 1.29. The company has a 50 day simple moving average of $333.77 and a two-hundred day simple moving average of $359.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.63 and a current ratio of 2.33. KLA Co. has a fifty-two week low of $287.44 and a fifty-two week high of $457.12.

KLA (NASDAQ:KLACGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.80 by $0.33. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.20 billion. KLA had a return on equity of 78.72% and a net margin of 36.41%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.85 EPS. Research analysts predict that KLA Co. will post 20.89 EPS for the current year.

KLA declared that its Board of Directors has initiated a share repurchase program on Thursday, June 16th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, May 13th. KLA’s payout ratio is 20.39%.

A number of research firms have recently commented on KLAC. Evercore ISI set a $425.00 target price on shares of KLA in a report on Monday, June 20th. UBS Group dropped their target price on shares of KLA from $360.00 to $345.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. KeyCorp lowered their price objective on KLA from $440.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, June 17th. Barclays lowered their price objective on KLA from $400.00 to $365.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Finally, The Goldman Sachs Group raised KLA from a “neutral” rating to a “buy” rating and set a $430.00 price objective for the company in a research note on Sunday, March 27th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, KLA has a consensus rating of “Moderate Buy” and an average target price of $431.50.

About KLA (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.

Further Reading

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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