KLA Co. (NASDAQ:KLAC) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP lowered its position in shares of KLA Co. (NASDAQ:KLAC) by 50.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,283 shares of the semiconductor company’s stock after selling 4,376 shares during the period. Nicholas Investment Partners LP’s holdings in KLA were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KLAC. Tortoise Investment Management LLC grew its holdings in shares of KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 36 shares during the period. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of KLA in the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in shares of 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 acquiring an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup lowered their price target on KLA from $910.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Needham & Company LLC restated a “buy” rating and set a $830.00 target price on shares of KLA in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of KLA from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley reduced their price target on shares of KLA from $870.00 to $868.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $802.74.

KLA Stock Performance

Shares of KLAC stock opened at $795.90 on Wednesday. The stock’s 50-day moving average is $681.09 and its two-hundred day moving average is $685.71. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The firm has a market cap of $105.25 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $5.26 EPS. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. Analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. KLA’s dividend payout ratio is presently 27.63%.

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

Insider Transactions at KLA

In other news, CEO Richard P. Wallace sold 10,802 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the transaction, the chief executive officer now owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The stock was 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 represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.