USS Investment Management Ltd Sells 1,276 Shares of KLA Co. (NASDAQ:KLAC)

USS Investment Management Ltd reduced its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,769 shares of the semiconductor company's stock after selling 1,276 shares during the quarter. USS Investment Management Ltd's holdings in KLA were worth $19,391,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hutchens & Kramer Investment Management Group LLC lifted its position in shares of KLA by 3.3% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company's stock valued at $259,000 after purchasing an additional 13 shares in the last quarter. Richardson Financial Services Inc. increased its stake in KLA by 5.9% in the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company's stock valued at $160,000 after buying an additional 14 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of KLA by 6.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company's stock worth $155,000 after buying an additional 15 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of KLA by 2.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock worth $476,000 after buying an additional 15 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of KLA by 12.0% in the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock worth $88,000 after buying an additional 15 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research analyst reports. Cowen reaffirmed a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 target price for the company. in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. UBS Group increased their price target on shares of KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and a consensus target price of $799.58.

KLA Stock Up 0.4%

KLA stock opened at $790.29 on Wednesday. The firm has a 50 day simple moving average of $692.36 and a 200 day simple moving average of $689.75. 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 1-year low of $551.33 and a 1-year high of $896.32. The firm has a market capitalization of $104.51 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.57 and a beta of 1.40.

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. 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%. The business's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the company earned $5.26 earnings per share. On average, analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.96%. KLA's dividend payout ratio is currently 27.63%.

KLA declared that its board has authorized a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, 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 sale, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

KLA Company 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.

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