KLA Co. (NASDAQ:KLAC) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 288,705 shares of the semiconductor company's stock after selling 9,665 shares during the quarter. Truist Financial Corp owned about 0.21% of KLA worth $167,824,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alkeon Capital Management LLC lifted its stake in shares of KLA by 52.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company's stock valued at $530,630,000 after purchasing an additional 400,000 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in KLA by 6,309.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company's stock valued at $145,410,000 after buying an additional 246,244 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in KLA during the fourth quarter worth approximately $132,189,000. Wellington Management Group LLP increased its position in shares of KLA by 6.4% in the third quarter. Wellington Management Group LLP now owns 3,159,498 shares of the semiconductor company's stock worth $1,449,135,000 after acquiring an additional 190,355 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of KLA by 12.7% in the 3rd quarter. Invesco Ltd. now owns 1,365,784 shares of the semiconductor company's stock valued at $626,431,000 after acquiring an additional 153,752 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KLAC. Evercore ISI began coverage on shares of KLA in a research report on Tuesday, April 16th. They set an "outperform" rating and a $800.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research note on Thursday, April 11th. They issued a "buy" rating and a $800.00 target price for the company. Barclays boosted their price target on KLA from $550.00 to $630.00 and gave the stock an "underweight" rating in a research report on Friday. Bank of America increased their price objective on shares of KLA from $740.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group upped their target price on shares of KLA from $560.00 to $640.00 and gave the company a "buy" rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $720.42.

KLA Stock Performance

NASDAQ:KLAC traded up $33.31 during trading hours on Friday, reaching $706.26. 1,192,886 shares of the stock were exchanged, compared to its average volume of 962,386. The stock has a market capitalization of $95.51 billion, a P/E ratio of 35.87, a P/E/G ratio of 3.27 and a beta of 1.34. The firm has a 50 day simple moving average of $685.41 and a 200-day simple moving average of $599.79. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 1.69. KLA Co. has a 52 week low of $369.00 and a 52 week high of $729.15.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) 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 analysts' expectations of $2.31 billion. KLA had a return on equity of 107.56% and a net margin of 27.98%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business posted $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 fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $1.45 dividend. 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 0.82%. KLA's payout ratio is currently 29.46%.

Insider Buying and Selling at KLA

In related news, EVP Oreste Donzella sold 3,257 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $697.85, for a total value of $2,272,897.45. Following the sale, the executive vice president now owns 16,922 shares of the company's stock, valued at approximately $11,809,017.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other KLA news, CFO Bren D. Higgins sold 7,018 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares in the company, valued at approximately $22,825,670. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,922 shares in the company, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

KLA Company Profile

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.

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