KLA Co. (NASDAQ:KLAC) Shares Sold by D. Scott Neal Inc.

D. Scott Neal Inc. reduced its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,368 shares of the semiconductor company's stock after selling 433 shares during the period. KLA makes up approximately 3.9% of D. Scott Neal Inc.'s investment portfolio, making the stock its 8th biggest holding. D. Scott Neal Inc.'s holdings in KLA were worth $7,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC raised its holdings 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 purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new position in shares of KLA during the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA during the fourth quarter worth $32,000. Fairfield Financial Advisors LTD raised its holdings 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 during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at $21,291,492.34. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the transaction, the chief executive officer now directly owns 78,740 shares in the company, valued at $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,829 shares of company stock valued at $13,240,166 in the last ninety days. Insiders own 0.12% of the company's stock.

KLA Stock Performance

NASDAQ:KLAC opened at $808.00 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The stock has a market capitalization of $106.85 billion, a P/E ratio of 33.98, a PEG ratio of 1.57 and a beta of 1.40. The company has a 50 day moving average price of $710.28 and a 200 day moving average price of $700.32. KLA Co. has a fifty-two week low of $551.33 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results 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. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm's quarterly revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the business earned $5.26 EPS. Equities research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

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

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price objective on shares of KLA in a report on Thursday, May 1st. TD Securities lifted their price objective on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $800.00 price objective on shares of KLA in a report on Thursday, May 1st. Morgan Stanley cut their price objective on shares of KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Cowen reaffirmed a "hold" rating on shares of KLA in a report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, KLA presently has a consensus rating of "Moderate Buy" and a consensus price target of $799.58.

KLA Company 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.

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