GF Fund Management CO. LTD. bought a new position in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,350 shares of the semiconductor company's stock, valued at approximately $15,974,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of KLA in the fourth quarter worth about $1,175,756,000. Parnassus Investments LLC lifted its position 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 worth $462,085,000 after buying an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after buying an additional 342,189 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 worth $750,638,000 after buying an additional 300,015 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of KLA during the 4th quarter worth about $187,212,000. Institutional investors and hedge funds own 86.65% of the company's stock.
Insider Buying and Selling at KLA
In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at $20,867,606.76. This trade represents a 19.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the firm'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 sale, the chief executive officer now directly 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. Insiders sold 18,829 shares of company stock valued at $13,240,166 in the last quarter. 0.12% of the stock is currently owned by insiders.
KLA Stock Up 4.2%
Shares of KLAC traded up $31.89 during mid-day trading on Tuesday, hitting $789.06. 1,292,482 shares of the company's stock were exchanged, compared to its average volume of 1,087,435. The company has a market cap of $104.35 billion, a PE ratio of 33.18, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. The company has a 50-day simple moving average of $696.36 and a 200 day simple moving average of $692.36. 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 released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The firm's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.26 EPS. On average, research analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.
KLA declared that its Board of Directors has approved a share buyback program on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.
KLA Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is presently 27.63%.
Analysts Set New Price Targets
KLAC has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and issued a $725.00 price target (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Oppenheimer upped their target price on shares of KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley reduced their price target on shares of KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $799.58.
Check Out Our Latest Stock Analysis on KLAC
KLA Profile
(
Free Report)
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.
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