AQR Capital Management LLC Sells 87,580 Shares of KLA Co. (NASDAQ:KLAC)

AQR Capital Management LLC lessened its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,042 shares of the semiconductor company's stock after selling 87,580 shares during the period. AQR Capital Management LLC owned 0.08% of KLA worth $63,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KLAC. Virtu Financial LLC bought a new stake in shares of KLA during the 3rd quarter valued at about $994,000. Anchor Investment Management LLC boosted its holdings in shares of KLA by 43.7% during the 3rd quarter. Anchor Investment Management LLC now owns 125 shares of the semiconductor company's stock worth $97,000 after buying an additional 38 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of KLA during the 3rd quarter worth approximately $310,000. Principal Financial Group Inc. increased its stake in shares of KLA by 5.4% in the 3rd quarter. Principal Financial Group Inc. now owns 172,389 shares of the semiconductor company's stock valued at $133,500,000 after acquiring an additional 8,830 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of KLA by 3.5% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the semiconductor company's stock valued at $1,108,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Analysts Set New Price Targets

KLAC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Stifel Nicolaus increased their price target on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday. Susquehanna boosted their price objective on KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a "buy" rating and issued a $830.00 price target on shares of KLA in a research report on Thursday. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $800.00 price target on shares of KLA in a research note on Thursday. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average target price of $802.74.

KLA Stock Performance

Shares of NASDAQ:KLAC traded down $4.87 during mid-day trading on Monday, reaching $693.29. The company had a trading volume of 811,873 shares, compared to its average volume of 1,062,112. The company's 50-day moving average price is $679.41 and its 200-day moving average price is $683.49. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The firm has a market cap of $92.13 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.57 and a beta of 1.37. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm earned $5.26 earnings per share. The company's revenue was up 35.5% compared to the same quarter last year. As a group, equities research analysts anticipate that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.98%. KLA's dividend payout ratio is currently 28.60%.

KLA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.12% of the company's stock.

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.