Institute for Wealth Management LLC. Cuts Stock Holdings in KLA Co. (NASDAQ:KLAC)

Institute for Wealth Management LLC. trimmed its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,428 shares of the semiconductor company’s stock after selling 53 shares during the period. Institute for Wealth Management LLC.’s holdings in KLA were worth $1,411,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of KLA in the 4th quarter worth about $25,000. Resurgent Financial Advisors LLC bought a new stake in shares of KLA in the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new stake in shares of KLA in the 3rd quarter worth about $26,000. Operose Advisors LLC bought a new stake in shares of KLA in the 3rd quarter worth about $26,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of KLA in the 4th quarter worth about $29,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

NASDAQ:KLAC traded down $17.07 during trading hours on Friday, hitting $627.15. 534,376 shares of the company were exchanged, compared to its average volume of 954,704. The stock has a market capitalization of $84.81 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.29 and a beta of 1.34. KLA Co. has a 52-week low of $355.88 and a 52-week high of $729.15. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.91 and a quick ratio of 1.25. The company’s 50 day moving average price is $684.63 and its 200-day moving average price is $591.62.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.25. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. KLA’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.38 EPS. As a group, research analysts forecast that KLA Co. will post 22.61 earnings per share for the current year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, February 15th. KLA’s dividend payout ratio (DPR) is currently 29.46%.

Insider Activity

In other news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the sale, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the transaction, the executive vice president now owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

KLAC has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of KLA from $565.00 to $725.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Raymond James boosted their price target on shares of KLA from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 price target for the company. Cantor Fitzgerald boosted their price target on shares of KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus boosted their price target on shares of KLA from $685.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $688.42.

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.