KLA Co. (NASDAQ:KLAC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 63.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,387 shares of the semiconductor company's stock after selling 2,364 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in KLA were worth $874,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KLAC. Tortoise Investment Management LLC lifted 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 worth $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in shares of KLA in the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA during the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD increased its holdings in KLA by 160.0% in 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 purchased a new position in shares of KLA during the fourth quarter worth $43,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KLAC shares. Barclays dropped their price target on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a research report on Tuesday. 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. Wells Fargo & Company upped their target price on shares of KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, KLA presently has an average rating of "Moderate Buy" and an average price target of $799.58.

Insider Activity

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction dated 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 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 position. 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 stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

KLA Trading Up 0.4%

Shares of KLA stock traded up $3.28 during trading hours on Tuesday, hitting $790.29. The company's stock had a trading volume of 949,195 shares, compared to its average volume of 1,080,955. The stock has a market cap of $104.51 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.57 and a beta of 1.40. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The firm has a fifty day moving average of $690.18 and a 200-day moving average of $689.04.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The firm's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the company posted $5.26 EPS. Research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Increases Dividend

The business 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 dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is currently 27.63%.

KLA announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding 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 often a sign that the company's management believes its shares are undervalued.

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.