KMG Fiduciary Partners LLC Makes New Investment in KLA Co. (NASDAQ:KLAC)

KMG Fiduciary Partners LLC bought a new position in shares of KLA Co. (NASDAQ:KLAC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 600 shares of the semiconductor company's stock, valued at approximately $408,000.

A number of other large investors also recently bought and sold shares of KLAC. Tortoise Investment Management LLC lifted its holdings in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after buying an additional 36 shares during the last quarter. TCTC Holdings LLC bought a new position in KLA during the 4th quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new position in KLA during the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after buying an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in KLA during the 4th quarter worth approximately $43,000. Institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KLAC shares. Barclays cut 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. Morgan Stanley cut their price target on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Oppenheimer raised their price target on KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Stifel Nicolaus raised their price target on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, KLA has an average rating of "Moderate Buy" and a consensus target price of $795.39.

KLA Stock Up 2.0%

Shares of KLAC stock opened at $808.00 on Monday. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The stock has a market cap of $106.85 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The business's fifty day moving average is $710.28 and its 200-day moving average is $701.39. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a return on equity of 108.60% and a net margin of 29.58%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the firm earned $5.26 EPS. The firm's revenue for the quarter was up 35.5% on a year-over-year basis. Equities analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The company 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 is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.94%. KLA's dividend payout ratio (DPR) is 27.63%.

KLA announced that its Board of Directors has approved a stock buyback program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction on Tuesday, May 6th. The stock was 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. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is owned by company insiders.

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.

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