Burney Co. Has $16.95 Million Holdings in KLA Corporation (NASDAQ:KLAC)

Burney Co. grew its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 143.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,934 shares of the semiconductor company's stock after acquiring an additional 14,697 shares during the period. Burney Co.'s holdings in KLA were worth $16,950,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KLAC. Proficio Capital Partners LLC grew its stake in shares of KLA by 81.9% during the fourth quarter. Proficio Capital Partners LLC now owns 544 shares of the semiconductor company's stock valued at $342,000 after acquiring an additional 245 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of KLA during the fourth quarter worth about $481,000. LPL Financial LLC lifted its position in shares of KLA by 1.1% during the fourth quarter. LPL Financial LLC now owns 95,988 shares of the semiconductor company's stock worth $60,484,000 after purchasing an additional 1,082 shares during the last quarter. Haverford Trust Co lifted its position in shares of KLA by 2.9% during the fourth quarter. Haverford Trust Co now owns 2,172 shares of the semiconductor company's stock worth $1,369,000 after purchasing an additional 61 shares during the last quarter. Finally, Modern Wealth Management LLC bought a new position in shares of KLA during the fourth quarter worth about $206,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Down 0.2%

KLA stock traded down $2.09 during midday trading on Friday, reaching $902.09. The stock had a trading volume of 807,981 shares, compared to its average volume of 836,322. The firm's fifty day simple moving average is $862.09 and its two-hundred day simple moving average is $761.33. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $945.87. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The firm has a market cap of $119.29 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.68 and a beta of 1.42.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business posted $5.26 EPS. The company's revenue was up 35.5% on a year-over-year basis. Equities analysts anticipate that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA announced that its board has initiated a stock 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 reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.84%. KLA's dividend payout ratio (DPR) is currently 27.63%.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction 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 completion of the sale, the chief executive officer owned 78,740 shares of the company's stock, valued at $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the sale, the chief accounting officer directly owned 2,616 shares of the company's stock, valued at $2,332,164. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,860 shares of company stock valued at $8,196,798 in the last quarter. Company insiders own 0.12% of the company's stock.

Analyst Ratings Changes

KLAC has been the topic of several research analyst reports. UBS Group increased their price target on shares of KLA from $775.00 to $960.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Citigroup reissued a "buy" rating and issued a $1,035.00 target price (up previously from $835.00) on shares of KLA in a report on Monday, July 7th. TD Securities raised their target price on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Wells Fargo & Company reissued an "equal weight" rating and issued a $920.00 target price (up previously from $870.00) on shares of KLA in a report on Tuesday, July 8th. Finally, TD Cowen raised their price target on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $849.76.

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.