Synovus Financial Corp boosted its position in KLA Co. (NASDAQ:KLAC) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,660 shares of the semiconductor company’s stock after purchasing an additional 40 shares during the period. Synovus Financial Corp’s holdings in KLA were worth $549,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its position in KLA by 3.7% in the first quarter. Rockefeller Capital Management L.P. now owns 33,651 shares of the semiconductor company’s stock worth $11,118,000 after purchasing an additional 1,201 shares during the period. Beta Wealth Group Inc. acquired a new stake in shares of KLA during the 1st quarter valued at $214,000. Barings LLC lifted its position in shares of KLA by 43.7% during the 1st quarter. Barings LLC now owns 1,164 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 354 shares during the last quarter. Berman Capital Advisors LLC lifted its position in shares of KLA by 35.8% during the 1st quarter. Berman Capital Advisors LLC now owns 372 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 98 shares during the last quarter. Finally, Bahl & Gaynor Inc. acquired a new stake in shares of KLA during the 1st quarter valued at $273,000. Hedge funds and other institutional investors own 87.11% of the company’s stock.
NASDAQ KLAC opened at $319.31 on Friday. KLA Co. has a 1-year low of $171.31 and a 1-year high of $359.69. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.66 and a quick ratio of 1.95. The firm has a market capitalization of $48.94 billion, a P/E ratio of 26.79, a PEG ratio of 1.62 and a beta of 1.23. The stock has a fifty day moving average of $321.37.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 14th. KLA’s payout ratio is 34.78%.
In other KLA news, CEO Richard P. Wallace sold 5,000 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $315.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 56,906 shares in the company, valued at $17,925,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary B. Moore purchased 377 shares of the firm’s stock in a transaction on Tuesday, May 11th. The shares were purchased at an average price of $301.02 per share, with a total value of $113,484.54. Following the completion of the acquisition, the director now directly owns 12,017 shares of the company’s stock, valued at $3,617,357.34. The disclosure for this purchase can be found here. Corporate insiders own 0.16% of the company’s stock.
A number of equities research analysts have recently commented on the company. Citigroup increased their price objective on KLA from $360.00 to $380.00 in a research report on Monday, April 19th. Morgan Stanley increased their price objective on KLA from $349.00 to $364.00 and gave the company an “equal weight” rating in a research report on Monday, May 3rd. Credit Suisse Group increased their price objective on KLA from $325.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on KLA from $360.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, April 19th. Finally, Zacks Investment Research upgraded KLA from a “hold” rating to a “buy” rating and set a $341.00 target price for the company in a report on Tuesday, April 20th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. KLA has a consensus rating of “Buy” and an average price target of $313.00.
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
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