LM Advisors LLC Decreases Stock Holdings in KLA Co. (NASDAQ:KLAC)

LM Advisors LLC decreased its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 50.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 480 shares of the semiconductor company's stock after selling 481 shares during the quarter. LM Advisors LLC's holdings in KLA were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tortoise Investment Management LLC boosted its holdings in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 36 shares during the period. TCTC Holdings LLC purchased a new stake in shares of KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of KLA in the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD boosted its holdings in shares of KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of KLA in the fourth quarter valued at approximately $43,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KLAC has been the subject of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $800.00 target price on shares of KLA in a report on Thursday, May 1st. Barclays lowered their target price on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Citigroup lowered their target price on KLA from $910.00 to $800.00 and set a "buy" rating for the company in a report on Friday, April 11th. TD Securities upped their target price on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on KLA from $870.00 to $868.00 and set an "overweight" rating for the company 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $799.58.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 10,802 shares of the firm's 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 transaction, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the transaction, the chief financial officer now directly owns 27,779 shares in the company, valued at $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 have sold a total of 18,829 shares of company stock valued at $13,240,166 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

KLA Stock Performance

KLAC traded down $24.70 during midday trading on Friday, hitting $749.27. 1,717,677 shares of the company were exchanged, compared to its average volume of 1,090,605. The company's 50 day simple moving average is $700.70 and its 200 day simple moving average is $695.29. The firm has a market capitalization of $99.08 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company posted $5.26 EPS. The company's revenue for the quarter was up 35.5% on a year-over-year basis. As a group, sell-side analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.90 per share. 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 1.01%. The ex-dividend date of this dividend is Monday, May 19th. KLA's dividend payout ratio is presently 27.63%.

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

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.