365 Shares in KLA Co. (NASDAQ:KLAC) Bought by Sagace Wealth Management LLC

Sagace Wealth Management LLC acquired a new position in shares of KLA Co. (NASDAQ:KLAC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 365 shares of the semiconductor company's stock, valued at approximately $248,000.

A number of other hedge funds have also recently added to or reduced their stakes in KLAC. Catalyst Financial Partners LLC increased its holdings in 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 in the last quarter. Anchor Investment Management LLC increased its holdings in 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 purchasing an additional 15 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in KLA by 3.1% during the 4th quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company's stock worth $338,000 after purchasing an additional 16 shares in the last quarter. TFB Advisors LLC grew its holdings in shares of KLA by 3.4% in the fourth quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company's stock valued at $308,000 after acquiring an additional 16 shares in the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in shares of KLA by 2.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company's stock valued at $359,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

KLAC has been the subject of several recent analyst reports. UBS Group upped their target price on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Morgan Stanley reduced their target price on KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on KLA from $750.00 to $770.00 and gave the company a "buy" 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. Finally, Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 target price for the company. in a report on Tuesday, May 20th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $795.39.

KLA Stock Up 0.3%

Shares of KLAC traded up $3.00 during mid-day trading on Thursday, reaching $875.00. The company had a trading volume of 1,090,567 shares, compared to its average volume of 1,108,693. 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 firm has a 50-day moving average price of $723.77 and a 200 day moving average price of $704.95. 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 $115.71 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS 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 analysts' expectations of $3.01 billion. The business's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.26 EPS. On average, sell-side analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 0.87%. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is currently 27.63%.

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

Insider Buying and Selling at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction 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 in the company, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,829 shares of company stock worth $13,240,166. Insiders own 0.12% of the company's stock.

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.