WBI Investments LLC Purchases Shares of 1,696 KLA Co. (NASDAQ:KLAC)

WBI Investments LLC bought a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,696 shares of the semiconductor company's stock, valued at approximately $1,069,000.

A number of other hedge funds also recently modified their holdings of KLAC. Tortoise Investment Management LLC boosted its position in 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 acquiring an additional 36 shares during the period. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA in the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD increased its stake in 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 during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in KLA in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Buying and Selling at KLA

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

KLA Stock Performance

KLA stock traded down $9.90 on Friday, hitting $757.62. The company's stock had a trading volume of 641,414 shares, compared to its average volume of 1,083,336. 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 $100.19 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average price of $694.66 and a 200-day moving average price of $691.08.

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

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

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date is Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 1.00%. KLA's payout ratio is currently 27.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a research note on Tuesday. Oppenheimer lifted their target price on shares of KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley cut their price target on shares of KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $799.58.

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.