3,375 Shares in KLA Co. (NASDAQ:KLAC) Bought by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. acquired a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,375 shares of the semiconductor company's stock, valued at approximately $2,294,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in KLA by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock worth $8,496,833,000 after acquiring an additional 85,370 shares during the last quarter. Capital International Investors boosted its holdings in KLA by 0.4% during the fourth quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock worth $2,273,118,000 after purchasing an additional 14,397 shares during the last quarter. Geode Capital Management LLC grew its position in KLA by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock worth $2,046,472,000 after purchasing an additional 31,608 shares in the last quarter. Norges Bank purchased a new stake in KLA in the 4th quarter valued at about $1,175,756,000. Finally, Northern Trust Corp lifted its position in shares of KLA by 13.8% during the 4th quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock worth $1,061,878,000 after buying an additional 204,330 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

NASDAQ:KLAC traded up $27.30 during trading hours on Tuesday, hitting $856.59. 1,515,515 shares of the company's stock traded hands, compared to its average volume of 1,103,315. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. The business's fifty day simple moving average is $717.86 and its two-hundred day simple moving average is $703.79. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm has a market cap of $113.28 billion, a P/E ratio of 36.02, a P/E/G ratio of 1.57 and a beta of 1.40.

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

KLA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis 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 Buying and Selling at KLA

In other KLA 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the sale, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,829 shares of company stock worth $13,240,166 over the last three months. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Oppenheimer boosted their price target on shares of KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective on the stock. in a research report on Tuesday, May 20th. TD Securities increased their target price 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, JPMorgan Chase & Co. lowered their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, KLA currently has a consensus rating of "Moderate Buy" and a consensus target price 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.