Parcion Private Wealth LLC Increases Holdings in KLA Co. (NASDAQ:KLAC)

Parcion Private Wealth LLC lifted its position in shares of KLA Co. (NASDAQ:KLAC) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,707 shares of the semiconductor company’s stock after acquiring an additional 1,315 shares during the period. KLA makes up approximately 0.9% of Parcion Private Wealth LLC’s portfolio, making the stock its 24th largest position. Parcion Private Wealth LLC’s holdings in KLA were worth $10,615,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after purchasing an additional 2,019 shares during the last quarter. Community Financial Services Group LLC lifted its position in KLA by 538.5% during the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 6,279 shares during the period. New Mexico Educational Retirement Board boosted its holdings in KLA by 22.3% in the first quarter. New Mexico Educational Retirement Board now owns 8,780 shares of the semiconductor company’s stock worth $6,133,000 after purchasing an additional 1,600 shares during the last quarter. Norden Group LLC grew its position in KLA by 1,579.3% in the 1st quarter. Norden Group LLC now owns 6,566 shares of the semiconductor company’s stock worth $4,589,000 after purchasing an additional 6,175 shares during the period. Finally, Eastern Bank raised its stake in KLA by 655.8% during the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $673.07 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The firm has a market cap of $90.18 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.69 and a beta of 1.27. The firm has a fifty day moving average price of $757.70 and a 200 day moving average price of $763.21. KLA Co. has a fifty-two week low of $452.01 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $5.40 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that KLA Co. will post 29.07 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, August 15th. KLA’s dividend payout ratio is presently 28.57%.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares in the company, valued at approximately $74,257,998.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,873 shares of company stock valued at $14,532,193 in the last quarter. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup dropped their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Oppenheimer started coverage on shares of KLA in a research report on Wednesday, September 25th. They set a “market perform” rating and a $750.00 price objective for the company. Stifel Nicolaus raised their target price on KLA from $760.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped 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. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $804.57.

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.