Aristotle Atlantic Partners LLC Has $18.75 Million Holdings in KLA Co. (NASDAQ:KLAC)

Aristotle Atlantic Partners LLC trimmed its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,762 shares of the semiconductor company's stock after selling 1,677 shares during the period. Aristotle Atlantic Partners LLC's holdings in KLA were worth $18,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Tortoise Investment Management LLC grew its holdings in shares of KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new stake in KLA during the fourth quarter worth about $31,000. Kohmann Bosshard Financial Services LLC bought a new position in KLA in the 4th quarter valued at about $32,000. Fairfield Financial Advisors LTD raised its position 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 valued at $41,000 after buying an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of KLA during the 4th quarter worth approximately $43,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KLAC. Susquehanna boosted their price objective on shares of KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price objective on shares of KLA in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus lifted their price target on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $802.74.

KLA Stock Performance

NASDAQ:KLAC opened at $698.16 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a fifty-two week low of $551.33 and a fifty-two week high of $896.32. The company has a 50 day simple moving average of $679.41 and a two-hundred day simple moving average of $683.40. The company has a market capitalization of $92.78 billion, a PE ratio of 29.36, a P/E/G ratio of 1.57 and a beta of 1.37.

KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion during 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%. KLA's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.26 earnings per share. Research analysts anticipate that KLA Co. will post 31.59 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.97%. KLA's dividend payout ratio is currently 28.60%.

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

Insider Buying and Selling at KLA

In related 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 transaction, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.12% of the company's stock.

About KLA

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.

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