KLA Co. (NASDAQ:KLAC) Shares Bought by BFI Infinity Ltd.

BFI Infinity Ltd. boosted its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,316 shares of the semiconductor company's stock after buying an additional 500 shares during the period. KLA makes up about 4.6% of BFI Infinity Ltd.'s investment portfolio, making the stock its 7th largest position. BFI Infinity Ltd.'s holdings in KLA were worth $4,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tortoise Investment Management LLC raised its holdings in shares of KLA by 300.0% during 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 period. TCTC Holdings LLC acquired a new stake in KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of KLA during the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD lifted 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 worth $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA in the fourth quarter valued at $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction that occurred 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 approximately $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. Insiders sold 18,829 shares of company stock valued at $13,240,166 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

KLA Stock Performance

KLAC stock traded down $7.33 during mid-day trading on Friday, reaching $867.67. The company had a trading volume of 1,832,159 shares, compared to its average volume of 1,113,834. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The stock has a market capitalization of $114.74 billion, a P/E ratio of 36.49, a P/E/G ratio of 1.57 and a beta of 1.40. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The stock's 50-day simple moving average is $734.54 and its two-hundred day simple moving average is $708.16.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The company's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.26 EPS. Research analysts anticipate that KLA Co. will post 31.59 EPS for the current year.

KLA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits 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 board believes its shares are undervalued.

KLA Increases Dividend

The firm also recently disclosed 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 is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.88%. KLA's payout ratio is currently 27.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Citigroup lowered their target price on KLA from $910.00 to $800.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Barclays cut their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus increased their price target on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective on the stock. in a report on Tuesday, May 20th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $795.39.

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.