CX Institutional Sells 290 Shares of KLA Co. (NASDAQ:KLAC)

CX Institutional decreased its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,154 shares of the semiconductor company's stock after selling 290 shares during the quarter. CX Institutional's holdings in KLA were worth $1,465,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its stake in KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after buying an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new stake in KLA in the 4th quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of KLA during the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD increased its stake in shares of KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Hurley Capital LLC purchased a new stake in shares of KLA during the 4th quarter worth approximately $51,000. Institutional investors own 86.65% of the company's stock.

KLA Price Performance

NASDAQ:KLAC traded up $24.71 during trading hours on Monday, hitting $892.38. The stock had a trading volume of 1,618,828 shares, compared to its average volume of 1,118,416. The company has a 50 day simple moving average of $740.39 and a two-hundred day simple moving average of $710.94. 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 Co. has a one year low of $551.33 and a one year high of $896.32. The firm has a market capitalization of $118.01 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $5.26 EPS. The firm's revenue was up 35.5% compared to the same quarter last year. Research analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed 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. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, May 19th. KLA's payout ratio is currently 27.63%.

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

Wall Street Analyst Weigh In

KLAC has been the subject of several research analyst reports. Wall Street Zen lowered shares of KLA from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Jefferies Financial Group reiterated a "hold" rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a research note on Friday, March 28th. Oppenheimer lifted their price objective on shares of KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $830.00 price objective on shares of KLA in a research note on Thursday, May 1st. Finally, Barclays reduced their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, KLA has a consensus rating of "Moderate Buy" and a consensus target price of $795.39.

Insider Transactions at KLA

In other KLA 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 of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the sale, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,829 shares of company stock valued at $13,240,166. Insiders own 0.12% of the company's stock.

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.