Focus Partners Wealth Raises Stock Position in KLA Co. (NASDAQ:KLAC)

Focus Partners Wealth raised its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,981 shares of the semiconductor company's stock after acquiring an additional 5,881 shares during the period. Focus Partners Wealth's holdings in KLA were worth $24,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tortoise Investment Management LLC raised its stake in KLA by 300.0% in 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 period. TCTC Holdings LLC acquired a new stake in shares of KLA during the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA during the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD lifted its holdings in KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after buying an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of KLA in the 4th quarter worth about $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on KLAC shares. Jefferies Financial Group reiterated a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. The Goldman Sachs Group lifted their price target on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $800.00 target price on shares of KLA in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Susquehanna upped their target price on KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average target price of $802.74.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the business's 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 sale, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction 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 represents a 19.57% 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 Price Performance

Shares of KLA stock traded up $9.10 during trading on Wednesday, hitting $805.00. The stock had a trading volume of 1,171,282 shares, compared to its average volume of 1,076,614. The firm has a market cap of $106.45 billion, a price-to-earnings ratio of 33.85, 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 business's 50-day moving average is $681.09 and its 200 day moving average is $685.71. 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 (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 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 business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $5.26 earnings per share. The firm's revenue was up 35.5% on a year-over-year basis. As a group, sell-side analysts anticipate that KLA Co. will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 0.94%. 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 (DPR) is presently 27.63%.

KLA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.