Signet Financial Management LLC Sells 372 Shares of KLA Co. (NASDAQ:KLAC)

Signet Financial Management LLC trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,196 shares of the semiconductor company's stock after selling 372 shares during the quarter. Signet Financial Management LLC's holdings in KLA were worth $2,173,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KLAC. Norges Bank bought a new stake in KLA during the 4th quarter valued at $1,175,756,000. GAMMA Investing LLC boosted its stake in shares of KLA by 95,141.6% in the 1st quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock valued at $1,138,221,000 after purchasing an additional 1,672,589 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of KLA by 381.3% during the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock valued at $462,085,000 after buying an additional 580,967 shares during the period. Proficio Capital Partners LLC lifted its position 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 purchasing an additional 342,189 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in KLA by 33.7% during the fourth 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 valued at $750,638,000 after buying an additional 300,015 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLA stock traded up $27.30 during trading on Tuesday, reaching $856.59. The company's stock had a trading volume of 1,515,515 shares, compared to its average volume of 1,101,507. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The firm has a market cap of $113.28 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The business's fifty day moving average price is $713.14 and its 200-day moving average price is $702.72. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $5.26 EPS. The company's revenue was up 35.5% compared to the same quarter last year. As a group, equities research analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA announced that its board has approved a stock buyback plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are 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 $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio (DPR) is currently 27.63%.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 78,740 shares in the company, valued at approximately $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,829 shares of company stock valued at $13,240,166. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KLAC has been the topic of several recent analyst reports. Barclays cut their target price 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. Stifel Nicolaus boosted their price target on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. TD Cowen lifted their price objective on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen cut KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $795.39.

KLA 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.