UMB Bank n.a. Purchases 7,819 Shares of KLA Co. (NASDAQ:KLAC)

UMB Bank n.a. raised its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 637.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,045 shares of the semiconductor company's stock after acquiring an additional 7,819 shares during the quarter. UMB Bank n.a.'s holdings in KLA were worth $6,149,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Tortoise Investment Management LLC lifted its holdings in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in shares of KLA by 160.0% during the fourth 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 last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the fourth quarter valued at approximately $43,000. 86.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on KLAC. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. Barclays lowered their target price on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $725.00 target price (down 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 research report on Friday, May 30th. Finally, TD Cowen upped their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $795.39.

KLA Stock Performance

Shares of KLAC stock traded up $15.41 during mid-day trading on Wednesday, reaching $872.00. 1,648,974 shares of the company's stock traded hands, compared to its average volume of 1,107,555. 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 capitalization of $115.31 billion, a PE ratio of 36.67, a price-to-earnings-growth 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 has a 50 day moving average price of $723.77 and a two-hundred day moving average price of $704.95.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. KLA's revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.26 EPS. On average, research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.87%. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio is 27.63%.

KLA announced that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Insider Transactions at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction 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 sale, 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 the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at $20,867,606.76. The trade was a 19.57% decrease in their position. 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. Corporate insiders own 0.12% of the company's stock.

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.