PharVision Advisers LLC Makes New Investment in KLA Co. (NASDAQ:KLAC)

PharVision Advisers LLC acquired a new stake in KLA Co. (NASDAQ:KLAC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 584 shares of the semiconductor company's stock, valued at approximately $368,000.

Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its holdings in KLA by 300.0% in the 4th 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 acquired a new stake in shares of KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of KLA in the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD grew its position in KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after buying an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in KLA during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Stock Performance

NASDAQ:KLAC opened at $790.29 on Wednesday. The company has a market cap of $104.51 billion, a price-to-earnings ratio of 33.23, a PEG 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 $692.36 and its two-hundred day simple moving average is $689.75. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

KLA (NASDAQ:KLAC - Get Free Report) last announced 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. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.26 EPS. As a group, equities analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

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

KLA Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Monday, May 19th. KLA's payout ratio is currently 27.63%.

Insider Buying and Selling

In other news, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 of the company's stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KLAC has been the subject of a number of recent analyst reports. TD Securities upped their target price on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Oppenheimer upped their price objective on shares of KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Citigroup reduced their price objective on shares of KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group raised their target price on shares of KLA from $759.00 to $864.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Cowen reiterated a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, KLA has an average rating of "Moderate Buy" and a consensus target price of $799.58.

KLA 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.

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