Brevan Howard Capital Management LP Buys 2,142 Shares of KLA Co. (NASDAQ:KLAC)

Brevan Howard Capital Management LP grew its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 121.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,899 shares of the semiconductor company's stock after purchasing an additional 2,142 shares during the period. Brevan Howard Capital Management LP's holdings in KLA were worth $2,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. World Investment Advisors LLC bought a new stake in shares of KLA during the 3rd quarter worth about $310,000. Principal Financial Group Inc. raised its holdings in KLA by 5.4% during the third quarter. Principal Financial Group Inc. now owns 172,389 shares of the semiconductor company's stock worth $133,500,000 after purchasing an additional 8,830 shares in the last quarter. Range Financial Group LLC lifted its position in KLA by 20.0% in the fourth quarter. Range Financial Group LLC now owns 660 shares of the semiconductor company's stock worth $416,000 after purchasing an additional 110 shares during the period. Fulton Bank N.A. boosted its stake in KLA by 0.6% during the 4th quarter. Fulton Bank N.A. now owns 13,677 shares of the semiconductor company's stock valued at $8,618,000 after purchasing an additional 81 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in KLA by 26.6% during the 4th quarter. First Hawaiian Bank now owns 1,253 shares of the semiconductor company's stock valued at $790,000 after purchasing an additional 263 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Down 0.3 %

NASDAQ KLAC traded down $2.13 during trading on Friday, reaching $701.20. 954,989 shares of the company's stock were exchanged, compared to its average volume of 1,063,811. 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 Co. has a fifty-two week low of $551.33 and a fifty-two week high of $896.32. The company's fifty day simple moving average is $678.12 and its 200-day simple moving average is $684.07. The firm has a market capitalization of $93.18 billion, a PE ratio of 29.49, a P/E/G ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $5.26 earnings per share. The firm's revenue was up 35.5% on a year-over-year basis. Sell-side 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. Investors of record on Monday, May 19th will be given a dividend of $1.90 per share. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 1.08%. KLA's dividend payout ratio (DPR) is presently 24.72%.

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

Wall Street Analyst Weigh In

KLAC has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a report on Friday, January 31st. Barclays cut their price target on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price objective on shares of KLA in a research note on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $800.00 target price on shares of KLA in a research note on Thursday, May 1st. Finally, TD Securities lifted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, KLA currently has a consensus rating of "Moderate Buy" and a consensus price target of $802.74.

Insiders Place Their Bets

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This trade represents 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.

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.