Frontier Capital Management Co. LLC Sells 3,158 Shares of KLA Co. (NASDAQ:KLAC)

Frontier Capital Management Co. LLC trimmed its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,719 shares of the semiconductor company's stock after selling 3,158 shares during the quarter. Frontier Capital Management Co. LLC's holdings in KLA were worth $31,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KLAC. Tortoise Investment Management LLC boosted 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 worth $30,000 after purchasing an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of KLA during the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of KLA during the fourth quarter worth $32,000. Fairfield Financial Advisors LTD boosted its position 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 worth $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of KLA during the fourth quarter worth $43,000. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KLAC. Morgan Stanley reduced their price target on shares of KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Susquehanna raised their price objective on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective 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. 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. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $802.74.

KLA Stock Down 0.3%

KLAC stock traded down $2.13 during midday trading on Friday, hitting $701.20. The company's stock had a trading volume of 954,989 shares, compared to its average volume of 1,066,282. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The company's fifty day moving average price is $678.12 and its 200 day moving average price is $684.33. The stock has a market capitalization of $92.73 billion, a P/E ratio of 29.49, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business earned $5.26 EPS. The company's revenue was up 35.5% compared to the same quarter last year. As a group, equities research analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is 27.63%.

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

Insider Activity

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA 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 completion of the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. The trade was a 19.57% decrease in their position. 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 KLA stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. 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.