Park Place Capital Corp Sells 33 Shares of KLA Co. (NASDAQ:KLAC)

Park Place Capital Corp lessened its position in shares of KLA Co. (NASDAQ:KLAC) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245 shares of the semiconductor company’s stock after selling 33 shares during the quarter. Park Place Capital Corp’s holdings in KLA were worth $171,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in KLA during the 4th quarter valued at approximately $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of KLA in the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in shares of KLA in the fourth quarter worth $28,000. Addison Advisors LLC acquired a new stake in shares of KLA in the fourth quarter worth $29,000. Finally, Jones Financial Companies Lllp increased its stake in shares of KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at KLA

In other news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at approximately $66,748,351.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares in the company, valued at $66,748,351.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $788.58, for a total value of $803,563.02. Following the completion of the transaction, the chief financial officer now owns 31,356 shares in the company, valued at $24,726,714.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,861 shares of company stock worth $16,795,913 in the last ninety days. Insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of NASDAQ:KLAC traded up $3.28 during trading on Monday, reaching $827.79. The stock had a trading volume of 480,150 shares, compared to its average volume of 905,419. The stock has a market cap of $111.45 billion, a PE ratio of 43.36, a PEG ratio of 3.94 and a beta of 1.27. KLA Co. has a 1-year low of $440.15 and a 1-year high of $876.55. The business has a fifty day moving average price of $759.32 and a 200-day moving average price of $681.98. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company posted $5.49 EPS. On average, equities analysts forecast that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio is currently 30.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KLAC. Raymond James increased their price objective on shares of KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Citigroup increased their price objective on shares of KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Susquehanna reiterated a “neutral” rating and issued a $675.00 price objective on shares of KLA in a research note on Monday, April 1st. UBS Group increased their price target on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Finally, StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $747.40.

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.