Lifestyle Asset Management Inc. Purchases 396 Shares of KLA Co. (NASDAQ:KLAC)

Lifestyle Asset Management Inc. grew its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 102.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 782 shares of the semiconductor company's stock after buying an additional 396 shares during the period. Lifestyle Asset Management Inc.'s holdings in KLA were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Veracity Capital LLC acquired a new position in shares of KLA in the 1st quarter valued at $215,000. Nixon Peabody Trust Co. grew its holdings in shares of KLA by 11.6% during the first quarter. Nixon Peabody Trust Co. now owns 787 shares of the semiconductor company's stock worth $535,000 after purchasing an additional 82 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of KLA by 21.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,902 shares of the semiconductor company's stock worth $8,091,000 after purchasing an additional 2,124 shares during the last quarter. Heritage Family Offices LLP lifted its holdings in shares of KLA by 7.3% in the 1st quarter. Heritage Family Offices LLP now owns 3,169 shares of the semiconductor company's stock valued at $2,154,000 after purchasing an additional 215 shares during the last quarter. Finally, Unigestion Holding SA lifted its holdings in shares of KLA by 24.1% in the 1st quarter. Unigestion Holding SA now owns 2,687 shares of the semiconductor company's stock valued at $1,827,000 after purchasing an additional 522 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cowen reaffirmed a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. reduced 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. Cantor Fitzgerald reissued a "neutral" rating and set a $800.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 target price on shares of KLA in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $799.58.

KLA Price Performance

Shares of KLAC stock traded up $16.11 during midday trading on Friday, reaching $808.00. 996,246 shares of the company were exchanged, compared to its average volume of 1,095,184. The company's 50 day moving average price is $707.77 and its two-hundred day moving average price is $699.00. The company has a market cap of $106.85 billion, a P/E ratio of 33.98, a PEG ratio of 1.57 and a beta of 1.40. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32. 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 posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm posted $5.26 EPS. The business's revenue for the quarter was up 35.5% on a year-over-year basis. On average, sell-side analysts expect that KLA Co. will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is currently 27.63%.

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

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is currently owned by company insiders.

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.