Moss Adams Wealth Advisors LLC Purchases Shares of 401 KLA Co. (NASDAQ:KLAC)

Moss Adams Wealth Advisors LLC purchased a new stake in KLA Co. (NASDAQ:KLAC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 401 shares of the semiconductor company's stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KLAC. Keyvantage Wealth LLC acquired a new stake in KLA during the 4th quarter worth about $214,000. NBC Securities Inc. acquired a new position in KLA in the 1st quarter worth about $55,000. Bristlecone Advisors LLC increased its stake in KLA by 7.0% during the 4th quarter. Bristlecone Advisors LLC now owns 2,583 shares of the semiconductor company's stock worth $1,628,000 after buying an additional 169 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in KLA by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,211 shares of the semiconductor company's stock worth $45,502,000 after buying an additional 659 shares in the last quarter. Finally, Sovran Advisors LLC purchased a new stake in KLA during the 4th quarter worth approximately $224,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of KLAC traded down $7.33 during mid-day trading on Friday, reaching $867.67. 1,832,159 shares of the company's stock were exchanged, compared to its average volume of 1,113,834. 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 quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a 52-week low of $551.33 and a 52-week high of $896.32. The company has a 50-day simple moving average of $729.17 and a two-hundred day simple moving average of $706.53.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS 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 firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company earned $5.26 EPS. KLA's revenue for the quarter was up 35.5% on a year-over-year basis. On average, sell-side analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership 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 paid a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.88%. KLA's payout ratio is currently 27.63%.

Insider Activity at KLA

In other news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KLAC has been the subject of a number of analyst reports. Barclays dropped their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. TD Securities increased their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $830.00 price objective on shares of KLA in a report on Thursday, May 1st. Finally, Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, KLA has an average rating of "Moderate Buy" and a consensus target price of $795.39.

KLA Company 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.