KLA Co. (NASDAQ:KLAC) Shares Sold by NZS Capital LLC

NZS Capital LLC cut its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 43.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,828 shares of the semiconductor company's stock after selling 47,904 shares during the quarter. KLA comprises approximately 1.7% of NZS Capital LLC's investment portfolio, making the stock its 21st biggest position. NZS Capital LLC's holdings in KLA were worth $39,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tortoise Investment Management LLC increased its position in shares of KLA by 300.0% during the 4th 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 acquired a new stake in shares of KLA during the 4th quarter worth about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA during the 4th quarter worth about $32,000. Fairfield Financial Advisors LTD increased its position in shares of KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in KLA in the 4th quarter valued at about $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on KLAC. UBS Group lifted their target price on KLA from $665.00 to $780.00 and gave the company a "neutral" rating in a research report on Tuesday, January 21st. Cantor Fitzgerald lifted their price objective on KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. 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. Deutsche Bank Aktiengesellschaft lifted their price objective on KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on KLA from $825.00 to $750.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, KLA presently has an average rating of "Moderate Buy" and a consensus target price of $804.67.

Insider Buying and Selling at KLA

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 value of $5,078,136.96. Following the completion of the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.12% of the stock is currently owned by corporate insiders.

KLA Trading Up 2.1 %

Shares of KLAC traded up $14.74 on Wednesday, hitting $702.69. 1,169,969 shares of the stock traded hands, compared to its average volume of 1,060,675. 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 firm has a market capitalization of $93.38 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.57 and a beta of 1.37. The stock's 50 day moving average is $682.20 and its two-hundred day moving average is $684.39. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly 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. KLA had a net margin of 29.58% and a return on equity of 108.60%. During the same quarter last year, the business earned $5.26 earnings per share. The firm's revenue for the quarter was up 35.5% on a year-over-year basis. As a group, sell-side analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 0.97%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio (DPR) is presently 28.60%.

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.