UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in KLA Co. (NASDAQ:KLAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,191,262 shares of the semiconductor company's stock after purchasing an additional 300,015 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.90% of KLA worth $750,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in KLA in the 4th quarter worth approximately $1,175,756,000. Parnassus Investments LLC boosted its stake in shares of KLA by 381.3% in the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after buying an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after acquiring an additional 342,189 shares during the period. Capital Research Global Investors purchased a new stake in KLA during the fourth quarter valued at $187,212,000. Finally, Pictet Asset Management Holding SA lifted its holdings in KLA by 25.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company's stock valued at $916,926,000 after acquiring an additional 292,907 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of KLA 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 of the company's stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 7,008 shares of the firm'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 sale, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KLAC shares. 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. Wells Fargo & Company upped their target price on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Needham & Company LLC reiterated a "buy" rating and set a $830.00 price target on shares of KLA in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $802.74.

KLA Price Performance

NASDAQ KLAC opened at $787.01 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $104.07 billion, a P/E ratio of 33.10, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32. The firm's fifty day simple moving average is $690.18 and its two-hundred day simple moving average is $689.04.

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, beating analysts' consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. KLA's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.26 EPS. Analysts forecast that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA announced that its board has initiated a stock buyback 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 repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.97%. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date is Monday, May 19th. KLA's dividend payout ratio is presently 27.63%.

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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