KLA Co. (NASDAQ:KLAC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 538,196 shares of the semiconductor company's stock after purchasing an additional 51,990 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.40% of KLA worth $339,132,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KLAC. Susquehanna lifted their price target on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $800.00 target price on shares of KLA in a research note on Thursday. UBS Group increased their target price on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $830.00 price target on shares of KLA in a report on Thursday. Finally, Barclays dropped their price objective on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, KLA currently has an average rating of "Moderate Buy" and an average price target of $802.74.

KLA Price Performance

Shares of KLAC stock traded up $21.85 during trading hours on Friday, hitting $698.16. The company's stock had a trading volume of 848,516 shares, compared to its average volume of 1,060,602. 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 business has a fifty day moving average of $679.94 and a 200-day moving average of $683.46. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The stock has a market cap of $92.78 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.57 and a beta of 1.37.

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

KLA Dividend Announcement

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

KLA announced that its Board of Directors has initiated a stock 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 purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value 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 approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.