Tounjian Advisory Partners LLC Buys New Shares in KLA Co. (NASDAQ:KLAC)

Tounjian Advisory Partners LLC bought a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,026 shares of the semiconductor company's stock, valued at approximately $697,000.

Other large investors have also modified their holdings of the company. Tortoise Investment Management LLC boosted its position in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD boosted its position in shares of KLA by 160.0% during the fourth 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 during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Stock Down 0.8%

KLA stock traded down $7.33 during mid-day trading on Friday, reaching $867.67. 1,832,159 shares of the company were exchanged, compared to its average volume of 1,113,834. The business has a fifty day moving average of $729.17 and a 200 day moving average of $706.53. The firm has a market cap of $114.74 billion, a P/E ratio of 36.49, a PEG ratio of 1.57 and a beta of 1.40. 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 12-month low of $551.33 and a 12-month high of $896.32.

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

KLA declared that its board has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.88%. KLA's dividend payout ratio is presently 27.63%.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,829 shares of company stock valued at $13,240,166. Corporate insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KLAC. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. Jefferies Financial Group reiterated a "hold" rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Barclays lowered their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $800.00 price target on shares of KLA in a report on Thursday, May 1st. Finally, UBS Group boosted their price target on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $795.39.

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.