Oaktop Capital Management II L.P. Sells 9,506 Shares of KLA Co. (NASDAQ:KLAC)

Oaktop Capital Management II L.P. decreased its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,075 shares of the semiconductor company's stock after selling 9,506 shares during the period. KLA makes up 30.1% of Oaktop Capital Management II L.P.'s portfolio, making the stock its biggest position. Oaktop Capital Management II L.P. owned 0.29% of KLA worth $240,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Tortoise Investment Management LLC grew its position in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in KLA during the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA in the 4th quarter worth $32,000. Fairfield Financial Advisors LTD lifted its holdings in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after buying an additional 40 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of KLA during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Stock Performance

Shares of KLAC stock traded down $14.83 during trading hours on Friday, reaching $791.17. The stock had a trading volume of 1,130,794 shares, compared to its average volume of 1,079,255. The firm has a market capitalization of $104.63 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The firm has a 50-day simple moving average of $685.51 and a 200-day simple moving average of $687.44. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.26 earnings per share. As a group, equities analysts forecast that KLA Co. will post 31.59 earnings per share for the current 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be paid a $1.90 dividend. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.96%. KLA's dividend payout ratio is presently 27.63%.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of analyst reports. Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. The Goldman Sachs Group increased their target price on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. TD Cowen raised their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company upped their target price on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $802.74.

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.