Desjardins Global Asset Management Inc. Decreases Position in KLA Co. (NASDAQ:KLAC)

Desjardins Global Asset Management Inc. cut its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,848 shares of the semiconductor company's stock after selling 1,727 shares during the quarter. KLA comprises 0.5% of Desjardins Global Asset Management Inc.'s investment portfolio, making the stock its 29th largest holding. Desjardins Global Asset Management Inc.'s holdings in KLA were worth $4,562,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KLAC. Fortitude Family Office LLC bought a new stake in shares of KLA during the fourth quarter worth $25,000. Bartlett & CO. Wealth Management LLC bought a new position in KLA in the fourth quarter valued at about $29,000. Operose Advisors LLC bought a new position in KLA in the third quarter valued at about $26,000. OFI Invest Asset Management bought a new position in KLA in the third quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC acquired a new position in KLA in the second quarter valued at about $29,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 7,018 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Oreste Donzella sold 3,257 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the sale, the executive vice president now directly owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares of the company's stock, valued at $22,825,670. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KLAC shares. New Street Research began coverage on KLA in a research report on Monday, December 18th. They set a "buy" rating and a $730.00 price objective on the stock. UBS Group increased their price objective on KLA from $605.00 to $760.00 and gave the company a "neutral" rating in a report on Tuesday, March 5th. Berenberg Bank raised their price target on KLA from $670.00 to $690.00 and gave the company a "buy" rating in a research report on Friday, January 26th. TD Cowen lifted their price objective on KLA from $525.00 to $650.00 and gave the company a "market perform" rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company increased their price target on KLA from $760.00 to $805.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned 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 $688.42.

KLA Stock Up 2.2 %

Shares of NASDAQ KLAC traded up $14.82 during mid-day trading on Tuesday, reaching $693.31. The company had a trading volume of 922,431 shares, compared to its average volume of 959,091. KLA Co. has a 52-week low of $355.88 and a 52-week high of $729.15. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. The stock has a market cap of $93.76 billion, a P/E ratio of 35.21, a PEG ratio of 3.32 and a beta of 1.34. The firm has a 50 day simple moving average of $683.11 and a two-hundred day simple moving average of $590.78.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, beating the consensus estimate of $5.91 by $0.25. The firm had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $7.38 earnings per share. Sell-side analysts predict that KLA Co. will post 22.65 earnings per share for the current year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $1.45 per share. The ex-dividend date was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.84%. KLA's payout ratio is currently 29.46%.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.