First Horizon Advisors Inc. increases share position in KLA Co. (NASDAQ:KLAC)

First Horizon Advisors Inc. increased its holdings in shares of KLA Co. (NASDAQ:KLAC – Free Report) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 745 shares of the semiconductor company’s stock after purchasing an additional 16 shares during the quarter. Holdings of First Horizon Advisors Inc. holdings in KLA were worth $614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of KLA by 13.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the semiconductor company’s stock valued at $5,511,000 after acquiring an additional 1,096 of shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of KLA by 7.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 100 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of KLA in the 4th quarter valued at about $4,559,000. Meritage Portfolio Management boosted its holdings in shares of KLA by 6.8% in the fourth quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock valued at $15,478,000 after acquiring an additional 1,692 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of KLA in the 4th quarter valued at approximately $811,000. 86.65% of the shares are currently held by hedge funds and other institutional investors.

KLA trading down 1.1%

Shares of KLAC stock opened at $811.57 on Wednesday. The stock has a 50-day simple moving average of $807.69 and a 200-day simple moving average of $738.62. KLA Co. it has a fifty-two week low of $440.15 and a fifty-two week high of $896.32. The stock has a market cap of $109.27 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.15, and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC – Get Free Report ) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.52 billion. In the same quarter last year, the company posted earnings of $5.40 per share. The company’s quarterly revenue was up 9.1% year over year. On average, sell-side analysts expect that KLA Co. to post 29.09 earnings per share for the current fiscal year.

KLA announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, August 15. This represents an annualized dividend of $5.80 and a yield of 0.71%. KLA’s dividend payout ratio is currently 30.38%.

Insider activity at KLA

In related news, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at approximately $2,749,473.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction dated 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 approximately $74,257,998.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CAO Virendra A. Kirloskar sold 825 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 21,936 shares of company stock worth $15,371,810 over the last 90 days. 0.12% of shares are currently held by corporate insiders.

Analysts set new price targets

A number of brokerages have recently weighed in on KLAC. Goldman Sachs Group boosted their price target on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Argus raised their target price on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley upped their target price on KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Barclays upped their target price on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, TD Cowen boosted their price target on KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. KLA presently has an average rating of “Moderate Buy” and a consensus price target of $805.29, according to MarketBeat .

Get the latest analysis on KLA

KLA profile

(Free Report)

KLA Corporation designs, manufactures and markets process control, process enablement and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty process with semiconductors; and PCB, display and component inspection.

Featured stories

Want to see what other hedge funds own KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for KLA Co. (NASDAQ:KLAC – Free Report).

Get news and reviews for KLA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for KLA and related companies with MarketBeat.com’s FREE daily email newsletter.