Fairtree Asset Management Pty Ltd Makes New $450,000 Investment in KLA Co. (NASDAQ:KLAC)

Fairtree Asset Management Pty Ltd purchased a new stake in KLA Co. (NASDAQ:KLAC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 714 shares of the semiconductor company's stock, valued at approximately $450,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in KLA in the fourth quarter valued at $1,175,756,000. Parnassus Investments LLC increased its stake in KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock valued at $462,085,000 after purchasing an additional 580,967 shares during the period. Proficio Capital Partners LLC increased its stake in KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock valued at $215,809,000 after purchasing an additional 342,189 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in KLA by 33.7% in 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 valued at $750,638,000 after purchasing an additional 300,015 shares during the period. Finally, Capital Research Global Investors acquired a new position in KLA in the fourth quarter valued at $187,212,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of NASDAQ KLAC traded down $24.70 on Friday, hitting $749.27. The company's stock had a trading volume of 1,717,677 shares, compared to its average volume of 1,092,984. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32. The company has a market capitalization of $99.08 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth 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. The stock has a 50 day moving average of $700.15 and a 200-day moving average of $694.36.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $5.26 earnings per share. The company's revenue for the quarter was up 35.5% compared to the same quarter last year. As a group, research analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $1.90 per share. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 1.01%. KLA's dividend payout ratio is presently 27.63%.

KLA declared that its Board of Directors has initiated a stock 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. UBS Group boosted their price target on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. 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. Deutsche Bank Aktiengesellschaft lowered shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a research note on Tuesday, May 20th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $800.00 price target on shares of KLA in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $799.58.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the transaction, the chief financial officer now owns 27,779 shares of the company's stock, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the company's 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 directly owns 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,829 shares of company stock valued at $13,240,166. Company insiders own 0.12% of the company's stock.

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.