Novem Group acquired a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,913 shares of the semiconductor company's stock, valued at approximately $1,205,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in KLA by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after buying an additional 85,370 shares during the last quarter. Capital International Investors grew its stake in shares of KLA by 0.4% in the fourth quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock worth $2,273,118,000 after acquiring an additional 14,397 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of KLA by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock valued at $2,046,472,000 after acquiring an additional 31,608 shares in the last quarter. Norges Bank purchased a new position in shares of KLA in the 4th quarter worth about $1,175,756,000. Finally, Northern Trust Corp raised its position in shares of KLA by 13.8% in the 4th quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock worth $1,061,878,000 after purchasing an additional 204,330 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.
KLA Price Performance
Shares of NASDAQ:KLAC opened at $790.29 on Wednesday. The firm's 50 day moving average price is $692.36 and its 200-day moving average price is $689.75. 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 stock has a market capitalization of $104.51 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32.
KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping 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 last year, the firm earned $5.26 earnings per share. The company's quarterly revenue was up 35.5% on a year-over-year basis. Equities research analysts expect that KLA Co. will post 31.59 EPS for the current year.
KLA declared that its board has authorized a share 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 buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
KLA Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is currently 27.63%.
Insiders Place Their Bets
In other KLA news, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 28,798 shares of the company's stock, 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. Company insiders own 0.12% of the company's stock.
Wall Street Analyst Weigh In
KLAC has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $830.00 price target on shares of KLA in a report on Thursday, May 1st. The Goldman Sachs Group raised their price target on shares of KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Susquehanna increased their target price on KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $799.58.
Check Out Our Latest Stock Report on KLAC
KLA Company Profile
(
Free Report)
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.
Further Reading
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