Bogart Wealth LLC Sells 50 Shares of KLA Corporation (NASDAQ:KLAC)

Bogart Wealth LLC lowered its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,061 shares of the semiconductor company’s stock after selling 50 shares during the quarter. Bogart Wealth LLC’s holdings in KLA were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. TCTC Holdings LLC bought a new position in KLA in the 4th quarter worth $31,000. Alpine Bank Wealth Management bought a new position in KLA in the 1st quarter worth $35,000. Olde Wealth Management LLC bought a new position in KLA in the 1st quarter worth $36,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in KLA by 527.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 58 shares during the period. Finally, HM Payson & Co. raised its holdings in KLA by 270.0% in the 1st quarter. HM Payson & Co. now owns 74 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 54 shares during the period. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of KLA from $760.00 to $590.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group restated a “hold” rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Cowen restated a “hold” rating on shares of KLA in a report on Thursday, May 1st. Citigroup restated a “buy” rating and set a $1,035.00 price objective (up previously from $835.00) on shares of KLA in a report on Monday, July 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $830.00 price objective on shares of KLA in a report on Thursday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, KLA has an average rating of “Hold” and an average price target of $840.33.

Insider Transactions at KLA

In other news, CAO Virendra A. Kirloskar sold 39 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the transaction, the chief accounting officer directly owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer owned 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,860 shares of company stock worth $8,196,798. Corporate insiders own 0.12% of the company’s stock.

KLA Price Performance

NASDAQ:KLAC opened at $924.58 on Monday. The firm has a market cap of $122.27 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $932.17. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The company’s 50-day moving average price is $826.84 and its two-hundred day moving average price is $744.14.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating analysts’ consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.26 earnings per share. On average, equities analysts anticipate that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. KLA’s dividend payout ratio is presently 27.63%.

KLA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

KLA Company Profile

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.