Algert Global LLC Raises Stake in KLA Co. (NASDAQ:KLAC)

Algert Global LLC lifted its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 607.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,394 shares of the semiconductor company's stock after acquiring an additional 2,914 shares during the quarter. Algert Global LLC's holdings in KLA were worth $2,139,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KLAC. Tortoise Investment Management LLC lifted its holdings in shares of KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares during the last quarter. TCTC Holdings LLC acquired a new position in shares of KLA in the 4th quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA in the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in shares of KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of KLA in the 4th quarter worth approximately $43,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

KLA Stock Up 8.5%

Shares of NASDAQ:KLAC traded up $59.27 during trading hours on Monday, reaching $760.47. The stock had a trading volume of 2,110,304 shares, compared to its average volume of 1,070,459. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The firm's 50 day moving average is $678.12 and its 200-day moving average is $684.33. The stock has a market capitalization of $100.57 billion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The company's revenue was up 35.5% on a year-over-year basis. During the same period last year, the firm posted $5.26 EPS. Research analysts predict that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KLAC shares. Stifel Nicolaus increased their target price on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $800.00 target price on shares of KLA in a report on Thursday, May 1st. TD Securities increased their target price on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $725.00 target price (down from $875.00) on shares of KLA in a report on Friday, March 28th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $802.74.

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.