Tectonic Advisors LLC Sells 176 Shares of KLA Co. (NASDAQ:KLAC)

Tectonic Advisors LLC cut its holdings in KLA Co. (NASDAQ:KLAC) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,367 shares of the semiconductor company’s stock after selling 176 shares during the period. Tectonic Advisors LLC’s holdings in KLA were worth $1,833,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Swedbank AB acquired a new stake in KLA during the first quarter valued at approximately $379,678,000. International Assets Investment Management LLC raised its position in KLA by 76,452.4% in the 3rd quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock worth $234,168,000 after purchasing an additional 301,987 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of KLA by 6,188.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after acquiring an additional 235,597 shares during the last quarter. 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 valued at $720,936,000 after acquiring an additional 211,227 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in KLA by 2,205.8% during the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after acquiring an additional 192,849 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $649.84, for a total value 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 approximately $2,749,473.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,873 shares of company stock worth $14,532,193. 0.12% of the stock is currently owned by company insiders.

KLA Price Performance

Shares of KLA stock opened at $666.16 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $89.69 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. The business’s 50-day moving average price is $764.03 and its 200-day moving average price is $764.02. KLA Co. has a 12 month low of $452.01 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.40 EPS. Sell-side analysts forecast that KLA Co. will post 29.13 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KLAC shares. TD Cowen upped their price objective on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI upped their price objective on KLA from $800.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Oppenheimer began coverage on KLA in a report on Wednesday, September 25th. They set a “market perform” rating and a $750.00 target price on the stock. Finally, StockNews.com downgraded KLA from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $804.57.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.