Curat Global LLC Purchases Shares of 583 KLA Co. (NASDAQ:KLAC)

Curat Global LLC acquired a new position in KLA Co. (NASDAQ:KLAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 583 shares of the semiconductor company's stock, valued at approximately $396,000.

Several other large investors have also recently made changes to their positions in KLAC. E. Ohman J or Asset Management AB increased its position in shares of KLA by 0.9% in the 1st quarter. E. Ohman J or Asset Management AB now owns 7,030 shares of the semiconductor company's stock valued at $4,779,000 after purchasing an additional 61 shares during the last quarter. Fjell Capital LLC lifted its stake in shares of KLA by 19.1% in the 1st quarter. Fjell Capital LLC now owns 2,173 shares of the semiconductor company's stock worth $1,477,000 after acquiring an additional 348 shares during the period. Chesley Taft & Associates LLC lifted its stake in shares of KLA by 4.9% in the first quarter. Chesley Taft & Associates LLC now owns 1,170 shares of the semiconductor company's stock valued at $795,000 after purchasing an additional 55 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of KLA by 8.6% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,469 shares of the semiconductor company's stock valued at $999,000 after purchasing an additional 116 shares during the period. Finally, Boltwood Capital Management increased its holdings in KLA by 3.3% during the 1st quarter. Boltwood Capital Management now owns 2,050 shares of the semiconductor company's stock valued at $1,394,000 after acquiring an additional 65 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Up 2.0%

KLAC stock traded up $16.11 during midday trading on Friday, hitting $808.00. The stock had a trading volume of 996,246 shares, compared to its average volume of 1,096,677. KLA Co. has a 52-week low of $551.33 and a 52-week high of $896.32. The firm has a market cap of $106.85 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The business has a 50-day moving average of $710.28 and a two-hundred day moving average of $700.32. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

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 analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 108.60% and a net margin of 29.58%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $5.26 earnings per share. The company's quarterly revenue was up 35.5% on a year-over-year basis. As a group, equities research analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.

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

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $1.90 dividend. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.94%. KLA's dividend payout ratio is currently 27.63%.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at $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 through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The stock was 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 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 90 days, insiders have sold 18,829 shares of company stock valued at $13,240,166. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KLAC shares. Jefferies Financial Group restated a "hold" rating and issued a $725.00 target price (down from $875.00) on shares of KLA in a report on Friday, March 28th. Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. TD Securities increased 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. UBS Group increased their price objective on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $830.00 target price on shares of KLA in a research report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $799.58.

About KLA

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.