KLA Co. (NASDAQ:KLAC) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,196 shares of the semiconductor company's stock after selling 1,397 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in KLA were worth $2,014,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its position in shares of KLA by 300.0% in the 4th 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 position in KLA in the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA in the fourth quarter valued at about $32,000. Fairfield Financial Advisors LTD raised its holdings in shares of KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of KLA during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Stock Up 3.2 %

Shares of NASDAQ KLAC traded up $21.85 during midday trading on Friday, reaching $698.16. 851,841 shares of the company's stock traded hands, compared to its average volume of 1,060,602. The company has a market cap of $92.78 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The stock's 50 day simple moving average is $679.94 and its 200-day simple moving average is $683.46.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the business posted $5.26 EPS. KLA's revenue was up 35.5% on a year-over-year basis. On average, analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio is currently 28.60%.

KLA declared that its Board of Directors has authorized a stock repurchase 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 typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of KLA from $759.00 to $864.00 and gave the company a "buy" rating in a report on Friday, January 31st. Susquehanna lifted their price objective on shares of KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their price objective 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 raised their price target on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and a consensus target price of $802.74.

Insider Buying and Selling

In other news, CFO Bren D. Higgins sold 7,008 shares of the 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 owns 28,798 shares of the company's stock, valued at $20,867,606.76. This represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by company insiders.

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.