Vise Technologies Inc. Boosts Stake in KLA Co. (NASDAQ:KLAC)

Vise Technologies Inc. lifted its position in KLA Co. (NASDAQ:KLAC - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160 shares of the semiconductor company's stock after purchasing an additional 485 shares during the period. Vise Technologies Inc.'s holdings in KLA were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC raised its position 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 buying an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new position in KLA during the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in KLA during the fourth quarter valued at $32,000. Fairfield Financial Advisors LTD increased its holdings in 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 acquiring an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in KLA in the 4th quarter worth $43,000. 86.65% of the stock is currently owned by institutional investors.

Insider Activity at KLA

In related news, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction that occurred 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. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the transaction, the chief financial officer now directly owns 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% 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 90 days. 0.12% of the stock is owned by corporate insiders.

KLA Trading Down 0.5%

Shares of KLAC traded down $3.53 during mid-day trading on Thursday, reaching $773.97. 907,024 shares of the company's stock traded hands, compared to its average volume of 1,187,279. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The stock's 50-day moving average is $699.23 and its two-hundred day moving average is $693.61. 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 P/E ratio of 32.55, 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 data 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. KLA had a return on equity of 108.60% and a net margin of 29.58%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the previous year, the business earned $5.26 EPS. KLA's revenue was up 35.5% compared to the same quarter last year. Research analysts forecast that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KLAC. Morgan Stanley cut their price objective on KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group raised their price target on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a report on Friday, January 31st. TD Cowen upped their price objective on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a research note on Tuesday, May 20th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $799.58.

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.