303 Shares in KLA Co. (NASDAQ:KLAC) Bought by Kelly Financial Services LLC

Kelly Financial Services LLC bought a new position in KLA Co. (NASDAQ:KLAC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 303 shares of the semiconductor company's stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also modified their holdings of KLAC. Norges Bank bought a new position in KLA during the fourth quarter valued at about $1,175,756,000. GAMMA Investing LLC increased its stake in shares of KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after purchasing an additional 1,672,589 shares during the period. Parnassus Investments LLC grew its position in KLA by 381.3% during the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after buying an additional 580,967 shares in the last quarter. Proficio Capital Partners LLC grew its position in KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after buying an additional 342,189 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in KLA by 33.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock worth $750,638,000 after buying an additional 300,015 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Stock Down 0.8%

KLAC stock traded down $7.33 during trading hours on Friday, reaching $867.67. 1,832,159 shares of the stock were exchanged, compared to its average volume of 1,116,404. The firm's 50-day moving average is $734.54 and its 200-day moving average is $708.69. The company has a market cap of $114.74 billion, a price-to-earnings 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 current ratio of 2.36 and a quick ratio of 1.63. 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 announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. KLA's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.26 EPS. On average, equities research analysts expect that KLA Co. will post 31.59 earnings per share for the current year.

KLA announced that its board has authorized a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a $1.90 dividend. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.88%. KLA's dividend payout ratio (DPR) is presently 27.63%.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of KLA 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares of the company's stock, valued at $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,829 shares of company stock worth $13,240,166. Company insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. TD Securities boosted their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Oppenheimer upped their price objective on KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Jefferies Financial Group reiterated a "hold" rating and set a $725.00 target price (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Finally, Citigroup dropped their target price on shares of KLA from $910.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, KLA has an average rating of "Moderate Buy" and a consensus 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.