Toronto Dominion Bank Decreases Stock Holdings in KLA Co. (NASDAQ:KLAC)

Toronto Dominion Bank lessened its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,265 shares of the semiconductor company's stock after selling 22,855 shares during the quarter. Toronto Dominion Bank's holdings in KLA were worth $32,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC raised its stake in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after buying an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of KLA in the 4th quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA in the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD lifted its stake in shares of KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of KLA during the fourth quarter valued at approximately $43,000. Institutional investors own 86.65% of the company's stock.

KLA Stock Performance

KLAC stock traded down $3.53 on Thursday, hitting $773.97. The company had a trading volume of 932,243 shares, compared to its average volume of 1,088,028. 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. The stock has a market cap of $102.35 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 1.57 and a beta of 1.40. The stock's 50-day simple moving average is $699.23 and its 200 day simple moving average is $693.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The company's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the business posted $5.26 EPS. As a group, equities research analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is 27.63%.

KLA declared that its board has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KLAC. Barclays lowered their price objective on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft cut shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective on the stock. in a report on Tuesday, May 20th. Wells Fargo & Company raised their target price on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Oppenheimer boosted their price target on KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average price target of $799.58.

Insider Buying and Selling

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 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 directly owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,829 shares of company stock valued at $13,240,166. 0.12% of the stock is owned by insiders.

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.