300 Shares in KLA Corporation (NASDAQ:KLAC) Purchased by CFO4Life Group LLC

CFO4Life Group LLC acquired a new stake in KLA Corporation (NASDAQ:KLAC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 300 shares of the semiconductor company's stock, valued at approximately $204,000.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in KLA during the 4th quarter worth about $1,175,756,000. GAMMA Investing LLC increased its holdings in KLA by 95,141.6% during the 1st 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 in the last quarter. Parnassus Investments LLC grew its holdings in shares of 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 acquiring an additional 580,967 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 acquiring an additional 300,015 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in shares of KLA in the fourth quarter valued at approximately $187,212,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $920.00 price objective (up previously from $870.00) on shares of KLA in a research note on Tuesday. Morgan Stanley increased their target price on KLA from $868.00 to $916.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. UBS Group increased their target price on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Cantor Fitzgerald restated an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. Finally, TD Securities lifted their target price 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. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, KLA presently has a consensus rating of "Hold" and a consensus target price of $840.33.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the business's 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 sale, the chief executive officer directly owned 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is owned by company insiders.

KLA Stock Performance

Shares of KLA stock traded down $4.04 during trading on Friday, hitting $924.58. 570,461 shares of the company's stock were exchanged, compared to its average volume of 1,136,402. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. The business has a 50-day simple moving average of $822.31 and a 200-day simple moving average of $740.94. KLA Corporation has a 52-week low of $551.33 and a 52-week high of $932.17. The stock has a market capitalization of $122.27 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 1.73 and a beta of 1.42.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The firm's revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.26 earnings per share. On average, research analysts forecast that KLA Corporation will post 31.59 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 0.82%. The ex-dividend date was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.

KLA declared that its board has authorized a share repurchase program on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.