Mercer Global Advisors Inc. ADV Sells 6,375 Shares of KLA Co. (NASDAQ:KLAC)

Mercer Global Advisors Inc. ADV cut its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,796 shares of the semiconductor company's stock after selling 6,375 shares during the period. Mercer Global Advisors Inc. ADV's holdings in KLA were worth $31,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of KLA in the 4th quarter worth $1,175,756,000. Parnassus Investments LLC increased its holdings in KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock valued at $462,085,000 after buying an additional 580,967 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of KLA by 114,444.5% during the 4th quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after buying an additional 342,189 shares during the period. Capital Research Global Investors acquired a new position in shares of KLA during the 4th quarter worth about $187,212,000. Finally, Pictet Asset Management Holding SA increased its stake in KLA by 25.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company's stock worth $916,926,000 after buying an additional 292,907 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KLAC shares. TD Cowen raised their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday. Citigroup decreased their price objective on KLA from $910.00 to $800.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price target on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research note on Thursday. Barclays dropped their target price 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. Finally, Susquehanna raised their target price on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $802.74.

KLA Stock Performance

Shares of NASDAQ:KLAC traded down $4.87 on Monday, hitting $693.29. The company's stock had a trading volume of 811,873 shares, compared to its average volume of 1,062,113. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32. The stock's 50-day moving average is $679.41 and its two-hundred day moving average is $683.49. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company has a market capitalization of $92.13 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

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

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 0.98%. KLA's dividend payout ratio (DPR) is currently 28.60%.

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

Insiders Place Their Bets

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.12% of the company's stock.

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.