KLA Co. (NASDAQ:KLAC) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lessened its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 973 shares of the semiconductor company's stock after selling 2,297 shares during the quarter. Teamwork Financial Advisors LLC's holdings in KLA were worth $662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DAVENPORT & Co LLC increased its position in shares of KLA by 7.0% during the fourth quarter. DAVENPORT & Co LLC now owns 5,620 shares of the semiconductor company's stock worth $3,541,000 after purchasing an additional 368 shares in the last quarter. FSM Wealth Advisors LLC boosted its stake in KLA by 13.1% during the 4th quarter. FSM Wealth Advisors LLC now owns 371 shares of the semiconductor company's stock worth $234,000 after purchasing an additional 43 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in shares of KLA by 6.4% during the fourth quarter. Childress Capital Advisors LLC now owns 479 shares of the semiconductor company's stock worth $302,000 after buying an additional 29 shares in the last quarter. Columbus Macro LLC raised its position in shares of KLA by 479.9% in the fourth quarter. Columbus Macro LLC now owns 5,689 shares of the semiconductor company's stock valued at $3,585,000 after buying an additional 4,708 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in shares of KLA by 1.0% in the fourth quarter. Calamos Wealth Management LLC now owns 1,775 shares of the semiconductor company's stock worth $1,118,000 after buying an additional 17 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,829 shares of company stock worth $13,240,166. Corporate insiders own 0.12% of the company's stock.

KLA Trading Up 1.3%

Shares of KLAC traded up $9.80 during midday trading on Thursday, hitting $791.89. 1,618,627 shares of the stock were exchanged, compared to its average volume of 1,094,971. 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 market cap of $104.72 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a 52-week low of $551.33 and a 52-week high of $896.32. The stock has a fifty day simple moving average of $705.53 and a 200 day simple moving average of $697.81.

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

KLA declared that its Board of Directors has approved a share repurchase 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 purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $1.90 per share. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Monday, May 19th. KLA's payout ratio is 27.63%.

Analyst Ratings Changes

A number of research firms have commented on KLAC. Jefferies Financial Group reiterated a "hold" rating and issued a $725.00 price objective (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Wall Street Zen cut KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC reiterated a "buy" rating and set a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Oppenheimer upped their target price on KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Citigroup reduced their price target on KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $799.58.

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.