Bessemer Group Inc. Decreases Stake in KLA Co. (NASDAQ:KLAC)

Bessemer Group Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,618 shares of the semiconductor company’s stock after selling 50,267 shares during the period. Bessemer Group Inc. owned approximately 0.15% of KLA worth $125,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KLAC. Tortoise Investment Management LLC increased its holdings in 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 buying an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new stake in shares of KLA during the 4th quarter worth approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of KLA in the 4th quarter worth approximately $32,000. Fairfield Financial Advisors LTD lifted its stake in KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in KLA during the fourth quarter valued at $43,000. 86.65% of the stock is owned by institutional investors.

KLA Price Performance

KLAC stock opened at $703.31 on Thursday. The stock has a market capitalization of $93.46 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.57 and a beta of 1.37. The firm’s 50-day moving average price is $708.82 and its two-hundred day moving average price is $696.23. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, equities analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s payout ratio is 28.60%.

Insider Transactions at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction 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. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

KLAC has been the topic of a number of recent research reports. Needham & Company LLC upped their price target on KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research report on Friday, January 31st. UBS Group boosted their price target on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Stifel Nicolaus raised their target price on shares of KLA from $800.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their target price on KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley raised KLA from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $748.00 to $870.00 in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $832.17.

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.