Hudson Valley Investment Advisors Inc. ADV Lowers Holdings in KLA Co. (NASDAQ:KLAC)

Hudson Valley Investment Advisors Inc. ADV decreased its position in KLA Co. (NASDAQ:KLAC - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,633 shares of the semiconductor company's stock after selling 570 shares during the period. KLA makes up approximately 1.7% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 13th biggest position. Hudson Valley Investment Advisors Inc. ADV's holdings in KLA were worth $14,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KLAC. Tealwood Asset Management Inc. bought a new stake in KLA during the 1st quarter valued at about $2,294,000. First Affirmative Financial Network increased its position in shares of KLA by 9.8% during the first quarter. First Affirmative Financial Network now owns 460 shares of the semiconductor company's stock valued at $313,000 after acquiring an additional 41 shares in the last quarter. Pines Wealth Management LLC increased its position in shares of KLA by 7.2% during the first quarter. Pines Wealth Management LLC now owns 1,315 shares of the semiconductor company's stock valued at $894,000 after acquiring an additional 88 shares in the last quarter. Eagle Rock Investment Company LLC increased its position in shares of KLA by 8.7% during the first quarter. Eagle Rock Investment Company LLC now owns 14,006 shares of the semiconductor company's stock valued at $9,521,000 after acquiring an additional 1,122 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in shares of KLA by 5.4% during the first quarter. SeaCrest Wealth Management LLC now owns 2,251 shares of the semiconductor company's stock valued at $1,530,000 after acquiring an additional 115 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of KLA stock opened at $808.00 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a market cap of $106.85 billion, a PE ratio of 33.98, a PEG ratio of 1.57 and a beta of 1.40. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32. The stock has a 50 day moving average of $710.28 and a 200 day moving average of $700.32.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business earned $5.26 EPS. The business's revenue was up 35.5% on a year-over-year basis. On average, research analysts expect that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.94%. KLA's dividend payout ratio (DPR) is presently 27.63%.

KLA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $800.00 target price on shares of KLA in a research report on Thursday, May 1st. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley cut their price target on KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $725.00 price target (down from $875.00) on shares of KLA in a research note on Friday, March 28th. Finally, TD Cowen boosted their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, KLA presently has a consensus rating of "Moderate Buy" and an average target price of $799.58.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares of the company's stock, valued at approximately $21,291,492.34. This trade represents a 3.54% 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. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,829 shares of company stock valued at $13,240,166 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

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.

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