Cornerstone Investment Partners LLC Sells 1,277 Shares of KLA Co. (NASDAQ:KLAC)

Cornerstone Investment Partners LLC trimmed its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,695 shares of the semiconductor company’s stock after selling 1,277 shares during the period. KLA accounts for 2.3% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 23rd largest holding. Cornerstone Investment Partners LLC owned approximately 0.05% of KLA worth $39,932,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in shares of KLA in the fourth quarter worth about $25,000. Resurgent Financial Advisors LLC bought a new position in KLA during the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new position in KLA in the third quarter worth about $26,000. Operose Advisors LLC purchased a new position in shares of KLA in the 3rd quarter worth approximately $26,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in KLA during the fourth quarter worth $29,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KLAC. UBS Group raised their target price on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Susquehanna restated a “neutral” rating and set a $675.00 target price on shares of KLA in a research report on Monday, April 1st. TD Cowen increased their price target on KLA from $525.00 to $650.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Berenberg Bank raised their price target on KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group upped their price objective on KLA from $560.00 to $640.00 and gave the company a “buy” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.42.

Insider Activity

In related news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $11,809,017.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now directly owns 16,922 shares in the company, valued at approximately $11,809,017.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

KLA Stock Down 1.8 %

Shares of KLAC traded down $11.86 during mid-day trading on Friday, hitting $632.36. The company’s stock had a trading volume of 226,539 shares, compared to its average volume of 951,448. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. The company’s 50-day moving average is $684.63 and its 200-day moving average is $591.62. KLA Co. has a 52-week low of $355.88 and a 52-week high of $729.15. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 3.29 and a beta of 1.34.

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

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $1.45 per share. 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 payout ratio is 29.46%.

KLA Company 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.