Mn Services Vermogensbeheer B.V. Sells 3,500 Shares of KLA Co. (NASDAQ:KLAC)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,200 shares of the semiconductor company's stock after selling 3,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in KLA were worth $34,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in KLA in the fourth quarter worth about $1,175,756,000. GAMMA Investing LLC raised its stake in KLA by 95,141.6% in the first 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 in the last quarter. Parnassus Investments LLC raised its stake in KLA by 381.3% in the fourth 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 in the last quarter. Proficio Capital Partners LLC raised its stake 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 worth $215,809,000 after buying an additional 342,189 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in KLA by 33.7% in 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 worth $750,638,000 after buying an additional 300,015 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Stock Down 0.8%

Shares of NASDAQ:KLAC traded down $7.33 during trading on Friday, reaching $867.67. 1,832,159 shares of the stock traded hands, compared to its average volume of 1,116,404. The stock has a 50-day moving average of $734.54 and a two-hundred day moving average of $708.69. KLA Co. has a 52-week low of $551.33 and a 52-week 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. The stock has a market cap of $114.74 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40.

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

KLA declared that its board has authorized a stock buyback program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are 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 issued a $1.90 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 0.88%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Cowen reissued a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 target price for the company. in a research note on Tuesday, May 20th. Stifel Nicolaus raised their target price on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup decreased their target price on shares of KLA from $910.00 to $800.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, TD Securities raised their target price on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, KLA has an average rating of "Moderate Buy" and an average target price of $795.39.

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.