Rhumbline Advisers Purchases 14,510 Shares of KLA Co. (NASDAQ:KLAC)

Rhumbline Advisers increased its position in KLA Co. (NASDAQ:KLAC - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,543 shares of the semiconductor company's stock after purchasing an additional 14,510 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of KLA worth $180,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLAC. Richardson Financial Services Inc. lifted its holdings in shares of KLA by 5.9% during the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company's stock valued at $160,000 after purchasing an additional 14 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of KLA by 6.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company's stock worth $155,000 after purchasing an additional 15 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of KLA by 2.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock worth $476,000 after purchasing an additional 15 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of KLA by 12.0% during the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 15 shares during the last quarter. Finally, TFB Advisors LLC increased its holdings in shares of KLA by 3.4% during the 4th quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company's stock worth $308,000 after acquiring an additional 16 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Up 0.8%

Shares of KLAC stock traded up $6.39 during midday trading on Thursday, reaching $788.48. 290,424 shares of the stock were exchanged, compared to its average volume of 1,089,878. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The company's 50 day moving average is $705.53 and its two-hundred day moving average is $697.81. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a market cap of $104.27 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40.

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

KLA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a dividend of $1.90 per share. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.96%. KLA's dividend payout ratio is 27.63%.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 10,802 shares of the company'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 value of $7,381,006.60. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the company'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 value of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,829 shares of company stock worth $13,240,166. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a report on Tuesday, May 20th. Oppenheimer upped their price objective on KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley decreased their price objective on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Cowen reaffirmed a "hold" rating on shares of KLA in a report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average price target of $799.58.

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.