First Commonwealth Financial Corp PA Invests $235,000 in KLA Co. (NASDAQ:KLAC)

First Commonwealth Financial Corp PA acquired a new stake in shares of KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 373 shares of the semiconductor company’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently bought and sold shares of KLAC. Tortoise Investment Management LLC lifted its stake in shares of KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in KLA during the fourth quarter worth about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA in the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD grew its holdings in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of KLA during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

KLAC has been the topic of several research analyst reports. Oppenheimer decreased their target price on shares of KLA from $850.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Susquehanna boosted their price objective on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. UBS Group boosted their price target on KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Finally, Needham & Company LLC lifted their price objective on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.11.

KLA Stock Down 1.2 %

Shares of NASDAQ KLAC opened at $634.43 on Friday. The firm has a market cap of $84.31 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.57 and a beta of 1.37. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The stock’s 50-day simple moving average is $697.62 and its 200-day simple moving average is $691.75.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, equities analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, February 24th. KLA’s dividend payout ratio is currently 28.60%.

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.