West Coast Financial LLC Has $1.26 Million Stock Position in KLA Co. (NASDAQ:KLAC)

West Coast Financial LLC lowered its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 26.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,851 shares of the semiconductor company's stock after selling 676 shares during the period. West Coast Financial LLC's holdings in KLA were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of KLA by 6.5% in the fourth 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 during the last quarter. Catalyst Financial Partners LLC increased its stake in KLA by 2.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock valued at $476,000 after purchasing an additional 15 shares during the last quarter. Anchor Investment Management LLC increased its stake in KLA by 12.0% during the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 15 shares during the last quarter. TFB Advisors LLC grew its position in shares of KLA by 3.4% during the fourth quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company's stock worth $308,000 after acquiring an additional 16 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in shares of KLA by 3.1% during the fourth quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company's stock worth $338,000 after acquiring an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

KLAC has been the subject of several recent research reports. 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. UBS Group upped their price target on shares of KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a report on Tuesday, May 20th. Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $800.00 price objective on shares of KLA in a report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and a consensus target price of $799.58.

Insider Transactions at KLA

In other news, 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 value of $7,381,006.60. Following the completion of the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at approximately $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the firm's 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 transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,829 shares of company stock worth $13,240,166. Company insiders own 0.12% of the company's stock.

KLA Stock Up 2.0%

Shares of NASDAQ KLAC traded up $16.11 during trading hours on Friday, hitting $808.00. The stock had a trading volume of 996,246 shares, compared to its average volume of 1,096,677. The company has a market capitalization of $106.85 billion, a P/E ratio of 33.98, a P/E/G ratio of 1.57 and a beta of 1.40. The firm's 50-day moving average price is $710.28 and its two-hundred day moving average price is $700.32. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. 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 (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The firm's quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.26 EPS. Analysts anticipate that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.94%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is presently 27.63%.

KLA declared that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.