Tilia Fiduciary Partners Inc. Invests $2.25 Million in KLA Co. (NASDAQ:KLAC)

Tilia Fiduciary Partners Inc. purchased a new position in KLA Co. (NASDAQ:KLAC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,304 shares of the semiconductor company's stock, valued at approximately $2,246,000. KLA comprises about 1.5% of Tilia Fiduciary Partners Inc.'s investment portfolio, making the stock its 21st biggest holding.

Several other large investors have also recently modified their holdings of KLAC. Tortoise Investment Management LLC raised its position in KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after buying an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new position in KLA in the 4th quarter worth about $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in KLA in the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD raised its position in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after buying an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in KLA in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KLAC. Morgan Stanley decreased their target price on KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. UBS Group boosted their price target on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. cut their price target on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, TD Cowen boosted their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, KLA presently has an average rating of "Moderate Buy" and a consensus target price of $795.39.

Insiders Place Their Bets

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the transaction, the chief financial officer now directly owns 27,779 shares in the company, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the chief executive officer now owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,829 shares of company stock worth $13,240,166 in the last three months. 0.12% of the stock is owned by company insiders.

KLA Trading Up 2.0%

Shares of NASDAQ:KLAC opened at $808.00 on Friday. The stock has a 50 day moving average of $710.28 and a 200 day moving average of $700.90. The company has a market cap of $106.85 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 108.60% and a net margin of 29.58%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the firm earned $5.26 EPS. The firm's revenue was up 35.5% compared to the same quarter last year. As a group, equities research analysts expect that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.94%. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio is presently 27.63%.

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

About KLA

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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