KLA Co. (NASDAQ:KLAC) is Pinnacle Wealth Management LLC’s 10th Largest Position

Pinnacle Wealth Management LLC lifted its holdings in KLA Co. (NASDAQ:KLAC) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,248 shares of the semiconductor company’s stock after purchasing an additional 123 shares during the quarter. KLA accounts for about 3.3% of Pinnacle Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Pinnacle Wealth Management LLC’s holdings in KLA were worth $2,678,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in KLA by 25.1% during the fourth quarter. Russell Investments Group Ltd. now owns 40,469 shares of the semiconductor company’s stock valued at $23,572,000 after acquiring an additional 8,110 shares during the last quarter. Mather Group LLC. increased its position in KLA by 3.5% during the fourth quarter. Mather Group LLC. now owns 2,183 shares of the semiconductor company’s stock valued at $1,269,000 after acquiring an additional 74 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in KLA by 1.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,941 shares of the semiconductor company’s stock valued at $4,035,000 after acquiring an additional 86 shares during the last quarter. Norden Group LLC purchased a new stake in KLA during the fourth quarter valued at $227,000. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in KLA during the fourth quarter valued at $801,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KLAC. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on KLA from $760.00 to $875.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Jefferies Financial Group started coverage on KLA in a report on Monday, May 13th. They set a “buy” rating and a $820.00 price target for the company. Finally, TD Cowen boosted their price target on KLA from $700.00 to $760.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $805.29.

Insider Buying and Selling

In other KLA news, EVP Brian Lorig sold 44 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KLA news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. The disclosure for this sale can be found here. In the last three months, insiders sold 20,917 shares of company stock valued at $14,568,247. Insiders own 0.12% of the company’s stock.

KLA Trading Up 3.0 %

KLAC traded up $23.68 during trading on Friday, reaching $819.43. The company had a trading volume of 1,079,372 shares, compared to its average volume of 925,996. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. KLA Co. has a 52 week low of $440.15 and a 52 week high of $896.32. The stock has a market cap of $110.33 billion, a P/E ratio of 42.92, a PEG ratio of 1.50 and a beta of 1.27. The business has a 50 day simple moving average of $803.10 and a 200-day simple moving average of $747.34.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company earned $5.40 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.71%. KLA’s payout ratio is 30.38%.

KLA 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.