Ensign Peak Advisors Inc Decreases Position in KLA Co. (NASDAQ:KLAC)

Ensign Peak Advisors Inc decreased its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,249 shares of the semiconductor company's stock after selling 12,872 shares during the period. Ensign Peak Advisors Inc's holdings in KLA were worth $16,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KLAC. Tortoise Investment Management LLC grew its holdings in shares of 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 bought a new stake in shares of KLA in the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of KLA in the fourth quarter worth $32,000. Fairfield Financial Advisors LTD grew its holdings in shares of KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of KLA in the fourth quarter worth $43,000. Institutional investors own 86.65% of the company's stock.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 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. 0.12% of the stock is owned by company insiders.

KLA Price Performance

Shares of KLA stock traded down $14.83 during trading hours on Friday, hitting $791.17. The company's stock had a trading volume of 1,130,794 shares, compared to its average volume of 1,081,236. The business has a 50 day moving average price of $688.05 and a two-hundred day moving average price of $688.07. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32. The company has a market cap of $104.63 billion, a PE ratio of 33.27, a PEG 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 (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 the consensus estimate 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 period in the previous year, the business earned $5.26 earnings per share. The business's revenue was up 35.5% on a year-over-year basis. Analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a $1.90 dividend. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, May 19th. KLA's payout ratio is currently 27.63%.

Wall Street Analysts Forecast Growth

KLAC has been the subject of several research analyst reports. Barclays cut their price objective on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Oppenheimer lifted their price objective on KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a report on Thursday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Finally, UBS Group boosted their price target on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $802.74.

KLA 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.