Legacy Capital Wealth Partners LLC Makes New $223,000 Investment in KLA Co. (NASDAQ:KLAC)

Legacy Capital Wealth Partners LLC purchased a new stake in KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 384 shares of the semiconductor company’s stock, valued at approximately $223,000.

A number of other hedge funds have also modified their holdings of KLAC. Fortitude Family Office LLC acquired a new stake in shares of KLA during the 4th quarter worth about $25,000. Addison Advisors LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $29,000. Operose Advisors LLC acquired a new stake in KLA during the third quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in KLA in the 3rd quarter worth approximately $26,000. Finally, AdvisorNet Financial Inc grew its stake in KLA by 29.3% in the 4th quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 17 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on KLAC. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of KLA in a research note on Thursday, April 11th. They set a “buy” rating and a $800.00 price target on the stock. Susquehanna reiterated a “neutral” rating and issued a $675.00 price target on shares of KLA in a report on Monday, April 1st. UBS Group upped their price objective on KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their target price on KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus target price of $722.26.

Insider Transactions at KLA

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

KLA Stock Performance

Shares of NASDAQ KLAC opened at $713.93 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $686.46 and its two-hundred day moving average price is $603.00. KLA Co. has a 52-week low of $369.66 and a 52-week high of $729.15. The stock has a market capitalization of $96.54 billion, a P/E ratio of 37.40, a P/E/G ratio of 3.52 and a beta of 1.34.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the company earned $5.49 earnings per share. As a group, sell-side analysts forecast that KLA Co. will post 22.61 earnings per share for the current year.

KLA Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.81%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

About KLA

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.