Ethic Inc. Raises Stock Holdings in KLA Co. (NASDAQ:KLAC)

Ethic Inc. raised its holdings in KLA Co. (NASDAQ:KLAC) by 19.8% in the fourth quarter, Holdings Channel reports. The firm owned 14,473 shares of the semiconductor company’s stock after purchasing an additional 2,394 shares during the period. Ethic Inc.’s holdings in KLA were worth $9,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Tortoise Investment Management LLC grew its position in KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in KLA in the fourth quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of KLA during the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD increased its stake 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 bought a new stake in shares of KLA in the 4th quarter worth approximately $43,000. Institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction 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 transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the sale, the chief executive officer now directly owns 78,740 shares of the company’s stock, valued at $53,803,042. This represents a 12.06 % 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.

KLA Stock Performance

NASDAQ:KLAC opened at $701.20 on Friday. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. 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 stock has a market cap of $93.18 billion, a P/E ratio of 29.49, a PEG ratio of 1.57 and a beta of 1.40. The business’s 50-day moving average price is $678.12 and its two-hundred day moving average price is $684.07.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. KLA’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.26 earnings per share. As a group, equities analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio is currently 24.72%.

Analysts Set New Price Targets

A number of research firms have issued reports on KLAC. JPMorgan Chase & Co. decreased their target price on KLA from $950.00 to $900.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted 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. Needham & Company LLC reiterated a “buy” rating and set a $830.00 target price on shares of KLA in a research report on Thursday, May 1st. TD Cowen lifted their target price on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Finally, Oppenheimer upped their price target on shares of KLA from $700.00 to $740.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.