Virginia Retirement Systems ET AL Sells 68,300 Shares of KLA Co. (NASDAQ:KLAC)

Virginia Retirement Systems ET AL lessened its position in shares of KLA Co. (NASDAQ:KLAC) by 45.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,000 shares of the semiconductor company’s stock after selling 68,300 shares during the period. Virginia Retirement Systems ET AL owned about 0.05% of KLA worth $26,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KLAC. UBS Asset Management Americas Inc. increased its holdings in KLA by 66.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,683,287 shares of the semiconductor company’s stock worth $556,158,000 after purchasing an additional 671,773 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in KLA by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,041,578 shares of the semiconductor company’s stock worth $1,335,337,000 after purchasing an additional 425,090 shares in the last quarter. Rokos Capital Management LLP bought a new position in KLA during the 1st quarter worth about $108,371,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in KLA by 2,687.2% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 236,273 shares of the semiconductor company’s stock worth $78,065,000 after purchasing an additional 227,796 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in KLA by 91.7% during the 1st quarter. Citigroup Inc. now owns 439,521 shares of the semiconductor company’s stock worth $145,218,000 after purchasing an additional 210,252 shares in the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.

In related news, CFO Bren D. Higgins sold 6,617 shares of KLA stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $335.92, for a total value of $2,222,782.64. Following the transaction, the chief financial officer now directly owns 6,827 shares of the company’s stock, valued at $2,293,325.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 420 shares of KLA stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $348.16, for a total transaction of $146,227.20. The disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock worth $5,950,888 over the last ninety days. Insiders own 0.16% of the company’s stock.

KLAC stock traded up $9.25 during mid-day trading on Thursday, hitting $329.66. 6,688 shares of the company were exchanged, compared to its average volume of 1,171,984. The business has a 50 day simple moving average of $341.23 and a 200-day simple moving average of $327.13. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $50.11 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. KLA Co. has a 1-year low of $190.21 and a 1-year high of $374.60.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, July 28th. The semiconductor company reported $4.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.99 by $0.44. KLA had a net margin of 30.04% and a return on equity of 74.13%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Equities research analysts expect that KLA Co. will post 19.3 earnings per share for the current year.

KLA announced that its Board of Directors has initiated a share buyback program on Thursday, July 29th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, August 16th were issued a dividend of $1.05 per share. The ex-dividend date was Friday, August 13th. This is a boost from KLA’s previous quarterly dividend of $0.90. This represents a $4.20 annualized dividend and a dividend yield of 1.27%. KLA’s dividend payout ratio (DPR) is currently 28.87%.

KLAC has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of KLA from $380.00 to $403.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. UBS Group increased their price objective on shares of KLA from $345.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. Needham & Company LLC upgraded shares of KLA from a “hold” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Friday, July 30th. Zacks Investment Research downgraded shares of KLA from a “buy” rating to a “hold” rating and set a $366.00 price objective for the company. in a research note on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of KLA from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $377.11.

KLA Profile

KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments; Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection and Other.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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