Hanlon Investment Management Inc. Sells 1,412 Shares of KLA Co. (NASDAQ:KLAC)

Hanlon Investment Management Inc. decreased its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 80.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351 shares of the semiconductor company's stock after selling 1,412 shares during the quarter. Hanlon Investment Management Inc.'s holdings in KLA were worth $221,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tortoise Investment Management LLC raised its stake in 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 acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC bought a new stake in shares of KLA in the 4th quarter worth about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA during the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD boosted its position in KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after buying an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in KLA during the fourth quarter worth about $43,000. 86.65% of the stock is owned by institutional investors.

KLA Trading Down 1.2 %

Shares of KLA stock traded down $7.76 during trading on Friday, hitting $634.43. 1,224,102 shares of the company were exchanged, compared to its average volume of 1,058,377. The firm has a market capitalization of $84.31 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The firm's fifty day moving average price is $695.14 and its 200 day moving average price is $689.74. 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 1-year low of $551.33 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. As a group, sell-side analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 1.07%. KLA's payout ratio is 28.60%.

Insiders Place Their Bets

In related news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on KLA from $825.00 to $750.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald increased their target price on KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. UBS Group lifted their price target on KLA from $665.00 to $780.00 and gave the company a "neutral" rating in a report on Tuesday, January 21st. Finally, Morgan Stanley raised shares of KLA from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $748.00 to $870.00 in a report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $814.11.

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.