KLA Co. (NASDAQ:KLAC) Holdings Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 335,934 shares of the semiconductor company's stock after selling 13,798 shares during the period. Nuveen Asset Management LLC owned 0.25% of KLA worth $211,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Tortoise Investment Management LLC boosted its holdings in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new position in KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA during the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD grew its stake in KLA by 160.0% during the fourth 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 acquired a new stake in shares of KLA in the fourth quarter worth $43,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

KLAC traded down $4.16 on Monday, hitting $787.01. 1,141,073 shares of the company's stock were exchanged, compared to its average volume of 1,081,478. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average of $688.05 and a two-hundred day moving average of $688.22. The firm has a market cap of $104.07 billion, a PE ratio of 33.10, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping the consensus estimate 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%. KLA's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.26 EPS. On average, research analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $1.90 per share. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, May 19th. KLA's payout ratio is currently 27.63%.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the transaction, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Stifel Nicolaus upped their target price on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Oppenheimer boosted their price objective on shares of KLA from $700.00 to $740.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Susquehanna raised their target price on KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley dropped their target price on KLA from $870.00 to $868.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, KLA has a consensus rating of "Moderate Buy" and an average 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.