Panagora Asset Management Inc. Lowers Stock Position in KLA Co. (NASDAQ:KLAC)

Panagora Asset Management Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC) by 6.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 205,747 shares of the semiconductor company’s stock after selling 14,197 shares during the period. Panagora Asset Management Inc. owned about 0.13% of KLA worth $67,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC raised its holdings in KLA by 2.9% in the 4th quarter. Signaturefd LLC now owns 1,229 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 35 shares during the period. First Horizon Advisors Inc. raised its holdings in KLA by 34.3% in the 4th quarter. First Horizon Advisors Inc. now owns 141 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 36 shares during the period. Parallel Advisors LLC raised its holdings in KLA by 5.3% in the 1st quarter. Parallel Advisors LLC now owns 757 shares of the semiconductor company’s stock worth $250,000 after purchasing an additional 38 shares during the period. Synovus Financial Corp raised its holdings in KLA by 2.5% in the 1st quarter. Synovus Financial Corp now owns 1,660 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 40 shares during the period. Finally, FDx Advisors Inc. raised its holdings in KLA by 1.0% in the 1st quarter. FDx Advisors Inc. now owns 4,525 shares of the semiconductor company’s stock worth $1,495,000 after purchasing an additional 47 shares during the period. 87.11% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on KLAC shares. Morgan Stanley boosted their price objective on KLA from $349.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Monday, May 3rd. Deutsche Bank Aktiengesellschaft upgraded KLA from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Tuesday. Citigroup boosted their price objective on KLA from $360.00 to $380.00 in a research note on Monday, April 19th. Credit Suisse Group boosted their price objective on KLA from $325.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 27th. Finally, Zacks Investment Research upgraded KLA from a “hold” rating to a “buy” rating and set a $341.00 price objective for the company in a research note on Tuesday, April 20th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. KLA currently has an average rating of “Buy” and a consensus price target of $313.00.

NASDAQ:KLAC traded down $1.79 during trading hours on Friday, reaching $317.52. 2,684 shares of the stock were exchanged, compared to its average volume of 1,300,800. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.66 and a quick ratio of 1.95. The stock has a 50-day simple moving average of $321.37. KLA Co. has a twelve month low of $171.31 and a twelve month high of $359.69. The stock has a market cap of $48.67 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.23.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 29th. The semiconductor company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.59 by $0.26. KLA had a return on equity of 69.63% and a net margin of 28.77%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.74 billion. As a group, analysts forecast that KLA Co. will post 14.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.13%. KLA’s dividend payout ratio (DPR) is 34.78%.

In other news, Director Gary B. Moore purchased 377 shares of the stock in a transaction on Tuesday, May 11th. The stock was bought at an average price of $301.02 per share, for a total transaction of $113,484.54. Following the acquisition, the director now directly owns 12,017 shares of the company’s stock, valued at approximately $3,617,357.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Wallace sold 15,000 shares of the stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $309.95, for a total transaction of $4,649,250.00. Following the completion of the sale, the chief executive officer now directly owns 61,906 shares in the company, valued at $19,187,764.70. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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