Palumbo Wealth Management LLC Buys Shares of 513 KLA Co. (NASDAQ:KLAC)

Palumbo Wealth Management LLC purchased a new position in KLA Co. (NASDAQ:KLAC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 513 shares of the semiconductor company’s stock, valued at approximately $397,000.

Several other large investors have also recently made changes to their positions in the company. Capital Market Strategies LLC boosted its stake in KLA by 1.6% during the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC boosted its position in KLA by 3.7% during the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 13 shares during the last quarter. HBW Advisory Services LLC grew its stake in KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 14 shares in the last quarter. TIAA Trust National Association raised its holdings in KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares during the last quarter. Finally, United Community Bank lifted its stake in KLA by 4.0% in the 1st quarter. United Community Bank now owns 390 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 15 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Argus upped their price target on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $750.00 to $850.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup dropped their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $805.29.

KLA Stock Down 3.1 %

Shares of NASDAQ:KLAC traded down $21.20 during trading on Thursday, hitting $670.60. The company’s stock had a trading volume of 326,450 shares, compared to its average volume of 939,438. KLA Co. has a fifty-two week low of $453.50 and a fifty-two week high of $896.32. The company has a market capitalization of $90.29 billion, a PE ratio of 36.35, a P/E/G ratio of 1.69 and a beta of 1.27. 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 business has a 50 day moving average price of $749.77 and a two-hundred day moving average price of $763.63.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.15% and a return on equity of 103.50%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm earned $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, research analysts expect that KLA Co. will post 29.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the transaction, the executive vice president now owns 9,298 shares in the company, valued at approximately $6,063,876.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the company’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 completion of the transaction, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mary Beth Wilkinson sold 2,611 shares of KLA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total value of $1,702,815.87. Following the sale, the executive vice president now owns 9,298 shares in the company, valued at $6,063,876.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,873 shares of company stock valued at $14,532,193 in the last ninety days. Insiders own 0.12% of the company’s stock.

KLA 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.