KLA Co. (NASDAQ:KLAC) Shares Bought by Bokf Na

BOKF NA increased its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,803 shares of the semiconductor company's stock after buying an additional 914 shares during the period. BOKF NA's holdings in KLA were worth $5,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in KLA by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after acquiring an additional 85,370 shares in the last quarter. Capital International Investors boosted its holdings in shares of KLA by 0.4% during the 4th quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock worth $2,273,118,000 after purchasing an additional 14,397 shares during the last quarter. Geode Capital Management LLC grew its position in shares of KLA by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock valued at $2,046,472,000 after purchasing an additional 31,608 shares in the last quarter. Norges Bank acquired a new stake in shares of KLA in the fourth quarter valued at approximately $1,175,756,000. Finally, Northern Trust Corp lifted its position in KLA by 13.8% during the fourth quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock worth $1,061,878,000 after buying an additional 204,330 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Activity

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The stock was 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 directly owns 28,798 shares of the company's stock, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $7,381,006.60. Following the completion of the transaction, the chief executive officer now directly owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KLAC shares. Susquehanna raised their target price on KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Barclays cut their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. Citigroup decreased their price objective on KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, TD Securities raised their target price on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note 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.com, KLA has an average rating of "Moderate Buy" and a consensus price target of $802.74.

KLA Stock Down 0.3 %

NASDAQ:KLAC traded down $2.13 during midday trading on Friday, reaching $701.20. The company had a trading volume of 954,989 shares, compared to its average volume of 1,063,811. The stock's fifty day simple moving average is $678.12 and its 200-day simple moving average is $684.07. 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 12-month low of $551.33 and a 12-month high of $896.32. The firm has a market capitalization of $93.18 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last released 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 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 the consensus estimate of $3.01 billion. During the same quarter in the prior year, the business posted $5.26 EPS. The business's revenue for the quarter was up 35.5% on a year-over-year basis. On average, sell-side analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA announced that its Board of Directors has approved a share 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be paid a $1.90 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 1.08%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is currently 24.72%.

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.