KLA Corporation (NASDAQ:KLAC) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 66.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 700 shares of the semiconductor company's stock after selling 1,400 shares during the period. Intact Investment Management Inc.'s holdings in KLA were worth $476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC boosted its position in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new stake in KLA in the 4th quarter worth $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in KLA in the 4th quarter worth $32,000. Fairfield Financial Advisors LTD grew its position in shares of KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Hurley Capital LLC bought a new stake in shares of KLA in the fourth quarter worth about $51,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 3.8%

Shares of NASDAQ:KLAC traded up $32.75 during trading on Tuesday, reaching $889.03. 1,144,548 shares of the company were exchanged, compared to its average volume of 1,126,011. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The firm has a market capitalization of $117.57 billion, a PE ratio of 32.32, a P/E/G ratio of 1.63 and a beta of 1.40. The business's fifty day simple moving average is $759.15 and its 200-day simple moving average is $718.30. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $914.83.

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, beating 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 period in the previous year, the company posted $5.26 EPS. KLA's revenue was up 35.5% on a year-over-year basis. On average, research analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

KLA announced that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. The ex-dividend date was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a yield of 0.85%. KLA's dividend payout ratio is 27.63%.

Insiders Place Their Bets

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on 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 now owns 78,740 shares of the company's stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $781,022.74. Following the completion of the transaction, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and issued a $830.00 target price on shares of KLA in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus lifted their target price on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Barclays decreased their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $815.39.

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.