Avanza Fonder AB Sells 1,530 Shares of KLA Co. (NASDAQ:KLAC)

Avanza Fonder AB lessened its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,050 shares of the semiconductor company's stock after selling 1,530 shares during the period. Avanza Fonder AB's holdings in KLA were worth $8,269,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Keyvantage Wealth LLC bought a new position in KLA in the fourth quarter worth about $214,000. Bristlecone Advisors LLC raised its position in shares of 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 purchasing an additional 169 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of KLA by 0.9% in 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 purchasing an additional 659 shares during the last quarter. Sovran Advisors LLC acquired a new position in KLA during the 4th quarter valued at approximately $224,000. Finally, Paradigm Asset Management Co. LLC bought a new position in KLA during the 4th quarter worth $126,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Stock Up 1.8%

Shares of NASDAQ KLAC traded up $15.41 during mid-day trading on Wednesday, reaching $872.00. The company had a trading volume of 1,648,974 shares, compared to its average volume of 1,107,555. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The stock's 50 day moving average is $717.86 and its 200-day moving average is $703.79. The stock has a market capitalization of $115.31 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last issued its 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. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The business's revenue was up 35.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.26 EPS. As a group, equities analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.

KLA announced that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KLAC. TD Cowen raised their target price on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. UBS Group raised their target price on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $800.00 target price on shares of KLA in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $725.00 price target (down from $875.00) on shares of KLA in a report on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $795.39.

Insider Activity at KLA

In other news, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 78,740 shares in the company, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,829 shares of company stock valued at $13,240,166. Insiders own 0.12% of the company's stock.

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.