Siemens Fonds Invest GmbH raised its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,400 shares of the semiconductor company's stock after purchasing an additional 803 shares during the period. Siemens Fonds Invest GmbH's holdings in KLA were worth $4,033,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Keyvantage Wealth LLC purchased a new position in shares of KLA in the 4th quarter worth approximately $214,000. Milestone Asset Management LLC purchased a new position in shares of KLA in the 4th quarter worth approximately $1,563,000. Bensler LLC grew its position in shares of KLA by 3.5% in the 4th quarter. Bensler LLC now owns 18,958 shares of the semiconductor company's stock worth $11,946,000 after buying an additional 649 shares during the last quarter. Swedbank AB grew its position in shares of KLA by 10.7% in the 4th quarter. Swedbank AB now owns 610,049 shares of the semiconductor company's stock worth $384,404,000 after buying an additional 59,100 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of KLA in the 4th quarter worth approximately $3,655,000. Hedge funds and other institutional investors own 86.65% of the company's stock.
KLA Price Performance
NASDAQ:KLAC traded down $24.70 during trading hours on Friday, reaching $749.27. 1,717,677 shares of the company were exchanged, compared to its average volume of 1,092,982. 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 stock's 50-day moving average is $700.70 and its 200-day moving average is $694.94. The firm has a market cap of $99.08 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32.
KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data 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 net margin of 29.58% and a return on equity of 108.60%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the business posted $5.26 earnings per share. The firm's revenue for the quarter was up 35.5% on a year-over-year basis. On average, sell-side analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.
KLA announced that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
KLA Increases Dividend
The firm also recently announced 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. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.01%. KLA's dividend payout ratio is presently 27.63%.
Insider Transactions at KLA
In other news, CEO Richard P. Wallace sold 10,802 shares of the company'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 completion of the sale, the chief executive officer now owns 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction 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 sale, the chief financial officer now directly owns 27,779 shares of the company's stock, 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. Insiders sold 18,829 shares of company stock valued at $13,240,166 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
KLAC has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. TD Securities lifted their target price on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $800.00 target price on shares of KLA in a research note on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on shares of KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $799.58.
Check Out Our Latest Analysis on KLA
About KLA
(
Free Report)
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.
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