Fortem Financial Group LLC Buys 550 Shares of KLA Corporation (NASDAQ:KLAC)

Fortem Financial Group LLC increased its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,389 shares of the semiconductor company's stock after buying an additional 550 shares during the quarter. KLA accounts for approximately 1.7% of Fortem Financial Group LLC's holdings, making the stock its 15th biggest holding. Fortem Financial Group LLC's holdings in KLA were worth $4,343,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in KLA in the fourth quarter valued at $31,000. Alpine Bank Wealth Management bought a new stake in KLA in the first quarter valued at $35,000. Olde Wealth Management LLC bought a new stake in KLA in the first quarter valued at $36,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in KLA by 527.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in shares of KLA by 270.0% during the 1st quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock valued at $50,000 after buying an additional 54 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KLAC. Wells Fargo & Company restated an "equal weight" rating and set a $920.00 target price (up previously from $870.00) on shares of KLA in a report on Tuesday. Oppenheimer boosted their target price on shares of KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Cowen restated a "hold" rating on shares of KLA in a report on Thursday, May 1st. The Goldman Sachs Group began coverage on shares of KLA in a report on Thursday. They set a "neutral" rating and a $980.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, KLA currently has an average rating of "Hold" and an average target price of $840.33.

KLA Stock Performance

NASDAQ:KLAC traded down $4.04 during mid-day trading on Friday, reaching $924.58. The company's stock had a trading volume of 570,461 shares, compared to its average volume of 1,136,402. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $932.17. The firm's fifty day moving average price is $826.84 and its two-hundred day moving average price is $742.83. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. The stock has a market cap of $122.27 billion, a P/E 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 for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 112.97% and a net margin of 31.99%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm earned $5.26 EPS. KLA's revenue was up 35.5% on a year-over-year basis. On average, equities analysts forecast that KLA Corporation will post 31.59 EPS 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 given a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.82%. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is presently 27.63%.

KLA declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were 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 owned 27,779 shares of the company's stock, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Virendra A. Kirloskar sold 39 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total value of $34,768.50. Following the transaction, the chief accounting officer owned 2,616 shares of the company's stock, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. 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. 0.12% of the stock is currently owned by insiders.

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.