KLA Co. (NASDAQ:KLAC) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 5.3% in the fourth quarter, according to its most recent 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KLAC. Norges Bank purchased a new position in shares of KLA during the 4th quarter worth approximately $1,175,756,000. Parnassus Investments LLC grew its stake in shares of KLA by 381.3% in the 4th 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 during the last quarter. Proficio Capital Partners LLC grew its stake in shares of KLA by 114,444.5% in the 4th 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of KLA by 33.7% in the 4th 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 during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of KLA in the 4th quarter worth approximately $187,212,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group upped their price target on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Wells Fargo & Company upped their price objective on KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Oppenheimer upped their price objective on KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, TD Cowen upped their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $799.58.

Insider Activity

In other news, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the transaction, the chief financial officer now owns 27,779 shares of the company's stock, 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 18,829 shares of company stock valued at $13,240,166 over the last ninety days. 0.12% of the stock is currently owned by insiders.

KLA Stock Up 4.2%

KLAC stock traded up $31.89 during trading on Tuesday, hitting $789.06. 1,292,482 shares of the company's stock traded hands, compared to its average volume of 1,087,435. The business has a fifty day simple moving average of $696.36 and a two-hundred day simple moving average of $692.36. The company has a quick ratio of 1.63, a current ratio of 2.36 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. The firm has a market capitalization of $104.35 billion, a P/E ratio of 33.18, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly 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. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.26 earnings per share. Sell-side analysts anticipate that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

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

KLA declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board 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.