KLA Co. (NASDAQ:KLAC) Shares Purchased by Twinbeech Capital LP

Twinbeech Capital LP increased its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 98.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,087 shares of the semiconductor company's stock after buying an additional 49,067 shares during the quarter. KLA comprises approximately 1.1% of Twinbeech Capital LP's investment portfolio, making the stock its 17th biggest holding. Twinbeech Capital LP owned 0.07% of KLA worth $62,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of KLA by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after acquiring an additional 85,370 shares during the last quarter. Capital International Investors boosted its position 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 in the last quarter. Geode Capital Management LLC raised its position in shares of KLA by 1.0% during 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 during the last quarter. Norges Bank acquired a new position in shares of KLA during the 4th quarter worth about $1,175,756,000. Finally, Northern Trust Corp raised 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 purchasing an additional 204,330 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Down 1.5%

Shares of NASDAQ KLAC traded down $11.43 during midday trading on Thursday, reaching $767.51. 681,865 shares of the stock were exchanged, compared to its average volume of 1,084,006. The company has a 50 day simple moving average of $693.68 and a 200 day simple moving average of $690.36. The stock has a market capitalization of $101.50 billion, a P/E ratio of 32.28, a PEG ratio of 1.57 and a beta of 1.40. 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 Co. has a twelve month low of $551.33 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last announced 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 business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business's revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.26 EPS. As a group, equities analysts expect that KLA Co. will post 31.59 earnings per share for the current year.

KLA declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.90 per share. The ex-dividend date is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KLAC shares. TD Cowen upped their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Susquehanna upped their price target on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Finally, The Goldman Sachs Group upped their price target on shares of KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and eleven 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 a consensus target price of $799.58.

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.