Twin Peaks Wealth Advisors LLC Has $354,000 Holdings in KLA Co. (NASDAQ:KLAC)

Twin Peaks Wealth Advisors LLC grew its holdings in shares of KLA Co. (NASDAQ:KLAC) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523 shares of the semiconductor company’s stock after buying an additional 24 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in KLA were worth $354,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KLAC. Sovran Advisors LLC acquired a new position in shares of KLA during the 4th quarter worth about $224,000. Portfolio Design Labs LLC acquired a new position in shares of KLA during the 4th quarter worth about $349,000. Leavell Investment Management Inc. boosted its stake in shares of KLA by 3.1% during the 4th quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company’s stock worth $338,000 after buying an additional 16 shares during the last quarter. Certuity LLC boosted its stake in shares of KLA by 10.1% during the 4th quarter. Certuity LLC now owns 403 shares of the semiconductor company’s stock worth $254,000 after buying an additional 37 shares during the last quarter. Finally, TFB Advisors LLC boosted its stake in shares of KLA by 3.4% during the 4th quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company’s stock worth $308,000 after buying an additional 16 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KLAC has been the topic of a number of research analyst reports. TD Cowen upped their target price on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of KLA from $870.00 to $868.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Oppenheimer upped their target price on shares of KLA from $700.00 to $740.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Cowen reaffirmed a “hold” rating on shares of KLA in a report on Thursday, May 1st. Finally, Wall Street Zen cut shares of KLA from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $795.39.

KLA Stock Performance

NASDAQ KLAC opened at $875.00 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $115.71 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 1.57 and a beta of 1.40. The firm’s 50 day simple moving average is $729.17 and its 200 day simple moving average is $706.53. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter last year, the business posted $5.26 EPS. As a group, research analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a $1.90 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.87%. This is a positive change from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio (DPR) is currently 27.63%.

KLA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,829 shares of company stock worth $13,240,166 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

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.