Legacy Wealth Asset Management LLC increased its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,494 shares of the semiconductor company's stock after purchasing an additional 681 shares during the period. Legacy Wealth Asset Management LLC's holdings in KLA were worth $1,695,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of KLAC. Norges Bank purchased a new stake in KLA in the 4th quarter valued at about $1,175,756,000. GAMMA Investing LLC increased its holdings in shares of KLA by 95,141.6% during the 1st quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after buying an additional 1,672,589 shares during the last quarter. Parnassus Investments LLC raised its position in shares of KLA by 381.3% in the 4th 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 period. Proficio Capital Partners LLC boosted its holdings in KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock valued at $215,809,000 after acquiring an additional 342,189 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in KLA by 33.7% during 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 valued at $750,638,000 after acquiring an additional 300,015 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.
KLA Stock Up 1.8%
NASDAQ:KLAC traded up $13.35 during mid-day trading on Tuesday, reaching $775.79. The stock had a trading volume of 943,151 shares, compared to its average volume of 1,089,118. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The company has a market capitalization of $102.59 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32. The stock's 50 day simple moving average is $701.84 and its two-hundred day simple moving average is $696.68.
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 for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 108.60% and a net margin of 29.58%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $5.26 EPS. The business's quarterly revenue was up 35.5% on a year-over-year basis. Equities analysts anticipate that KLA Co. will post 31.59 EPS for the current year.
KLA Increases Dividend
The firm also recently declared 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. The ex-dividend date is Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.98%. KLA's payout ratio is 27.63%.
KLA announced that its Board of Directors has authorized a stock buyback 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 often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
KLAC has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $800.00 price objective on shares of KLA in a research note on Thursday, May 1st. TD Securities boosted their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Barclays cut their target price on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley cut their price objective on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $799.58.
Check Out Our Latest Stock Analysis on KLA
Insider Activity at KLA
In related news, CEO Richard P. Wallace sold 10,802 shares of the company's 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 completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's 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 completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at $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. Insiders sold a total of 18,829 shares of company stock valued at $13,240,166 in the last quarter. Insiders own 0.12% of the company's stock.
About KLA
(
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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