KLA Co. (NASDAQ:KLAC) Holdings Cut by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in KLA Co. (NASDAQ:KLAC - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,902 shares of the semiconductor company's stock after selling 3,265 shares during the period. Public Employees Retirement System of Ohio's holdings in KLA were worth $37,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC raised its holdings in shares of KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC acquired a new position in shares of KLA during the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA in the fourth quarter valued at $32,000. Fairfield Financial Advisors LTD grew its holdings in KLA by 160.0% during the 4th 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 in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in KLA during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KLAC shares. Cowen reaffirmed a "hold" rating on shares of KLA in a research report on Thursday, May 1st. The Goldman Sachs Group increased their target price on KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Stifel Nicolaus boosted their price target on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. TD Securities raised their price objective on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, TD Cowen boosted 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $799.58.

KLA Price Performance

Shares of KLAC traded up $2.66 during midday trading on Thursday, reaching $780.16. The stock had a trading volume of 361,645 shares, compared to its average volume of 1,085,814. The firm's 50 day moving average price is $699.23 and its 200-day moving average price is $693.61. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. The company has a market capitalization of $103.17 billion, a P/E ratio of 32.79, a P/E/G ratio of 1.57 and a beta of 1.40. 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 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. The company 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%. KLA's revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the company earned $5.26 EPS. On average, analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 0.97%. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date is Monday, May 19th. KLA's dividend payout ratio (DPR) is presently 27.63%.

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

Insiders Place Their Bets

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 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 $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 of the company's stock, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is owned by insiders.

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.