Penobscot Investment Management Company Inc. Has $4.08 Million Holdings in KLA Co. (NASDAQ:KLAC)

Penobscot Investment Management Company Inc. lifted its holdings in KLA Co. (NASDAQ:KLAC) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,023 shares of the semiconductor company’s stock after acquiring an additional 83 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in KLA were worth $4,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP lifted its holdings in KLA by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,159,498 shares of the semiconductor company’s stock worth $1,449,135,000 after buying an additional 190,355 shares in the last quarter. Northern Trust Corp lifted its holdings in KLA by 3.5% during the 3rd quarter. Northern Trust Corp now owns 1,598,677 shares of the semiconductor company’s stock worth $733,249,000 after buying an additional 54,472 shares in the last quarter. Invesco Ltd. lifted its holdings in KLA by 12.7% during the 3rd quarter. Invesco Ltd. now owns 1,365,784 shares of the semiconductor company’s stock worth $626,431,000 after buying an additional 153,752 shares in the last quarter. Morgan Stanley lifted its holdings in KLA by 10.2% during the 3rd quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock worth $581,496,000 after buying an additional 117,584 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its holdings in KLA by 52.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock worth $530,630,000 after buying an additional 400,000 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KLA

In other news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the transaction, the executive vice president now directly owns 16,922 shares in the company, valued at approximately $11,809,017.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Bren D. Higgins sold 7,018 shares of the firm’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 sale, the chief financial officer now directly owns 32,375 shares in the company, valued at approximately $22,825,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oreste Donzella sold 3,257 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the sale, the executive vice president now owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KLAC. Citigroup upped their price objective on KLA from $725.00 to $760.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group increased their price target on KLA from $560.00 to $640.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Evercore ISI started coverage on KLA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research note on Thursday, April 11th. They issued a “buy” rating and a $800.00 price target on the stock. Finally, UBS Group increased their price target on KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average price target of $722.26.

KLA Stock Down 2.6 %

KLAC stock traded down $18.55 during trading hours on Tuesday, reaching $695.38. 215,608 shares of the stock were exchanged, compared to its average volume of 952,789. The firm’s 50-day moving average is $686.46 and its 200-day moving average is $603.00. The company has a market cap of $94.04 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 3.52 and a beta of 1.34. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. KLA Co. has a 12 month low of $369.66 and a 12 month high of $729.15.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.32. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a return on equity of 102.37% and a net margin of 27.19%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.49 EPS. On average, equities research analysts expect that KLA Co. will post 22.61 earnings per share for the current year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.83%. KLA’s dividend 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.