Zacks Investment Management Lowers Position in KLA Co. (NASDAQ:KLAC)

Zacks Investment Management lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 54.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 323 shares of the semiconductor company’s stock after selling 392 shares during the period. Zacks Investment Management’s holdings in KLA were worth $203,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Diversify Advisory Services LLC raised its position in shares of KLA by 22.7% in the 4th quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company’s stock worth $443,000 after buying an additional 120 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of KLA by 27.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company’s stock worth $6,161,000 after purchasing an additional 2,112 shares during the period. Milestone Asset Management LLC acquired a new position in shares of KLA in the 4th quarter valued at about $1,563,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of KLA by 15.2% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 60,834 shares of the semiconductor company’s stock worth $38,326,000 after purchasing an additional 8,028 shares during the period. Finally, Fiduciary Alliance LLC acquired a new stake in KLA during the 4th quarter worth approximately $1,190,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

KLA Price Performance

Shares of KLAC stock opened at $634.43 on Monday. The firm has a fifty day moving average of $695.14 and a two-hundred day moving average of $689.74. The firm has a market cap of $84.31 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a 1-year low of $551.33 and a 1-year 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) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping 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, research analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s dividend payout ratio is currently 28.60%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of KLA from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Needham & Company LLC upped their price target on shares of KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Cantor Fitzgerald raised their price objective on KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group boosted their price objective on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus lowered their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.11.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This 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 through this hyperlink. 0.12% of the stock is currently owned by company insiders.

KLA Company 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.