KLA Co. (NASDAQ:KLAC) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 306.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,813 shares of the semiconductor company's stock after acquiring an additional 88,073 shares during the quarter. SG Americas Securities LLC owned 0.09% of KLA worth $79,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Tortoise Investment Management LLC increased its position in shares of KLA by 300.0% in the fourth 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 in the last quarter. TCTC Holdings LLC purchased a new stake in shares of KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA in the fourth quarter worth approximately $32,000. Fairfield Financial Advisors LTD boosted its stake in shares of KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of KLA in the fourth quarter worth approximately $43,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Trading Up 1.8%

KLAC traded up $15.41 during mid-day trading on Wednesday, hitting $872.00. 1,648,974 shares of the stock were exchanged, compared to its average volume of 1,107,555. The firm's fifty day moving average is $717.86 and its two-hundred day moving average is $703.79. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32. 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 company has a market cap of $115.31 billion, a PE ratio of 36.67, a PEG 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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.01 billion. During the same quarter in the prior year, the company earned $5.26 EPS. KLA's revenue was up 35.5% on a year-over-year basis. Equities analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.

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

KLA Increases Dividend

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

Insider Activity

In related news, CEO Richard P. Wallace sold 10,802 shares of the firm'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 transaction of $7,381,006.60. Following the transaction, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This trade represents a 12.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the firm's 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 transaction, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on KLAC shares. Barclays lowered their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. TD Cowen lifted their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective on the stock. in a research note on Tuesday, May 20th. Morgan Stanley lowered their price objective on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group boosted their price objective on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $795.39.

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.