Desjardins Global Asset Management Inc. Cuts Position in KLA Co. (NASDAQ:KLAC)

Desjardins Global Asset Management Inc. decreased its position in KLA Co. (NASDAQ:KLAC) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,848 shares of the semiconductor company’s stock after selling 1,727 shares during the quarter. KLA accounts for approximately 0.5% of Desjardins Global Asset Management Inc.’s portfolio, making the stock its 29th largest position. Desjardins Global Asset Management Inc.’s holdings in KLA were worth $4,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of KLA during the fourth quarter worth $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of KLA in the fourth quarter valued at about $29,000. Operose Advisors LLC purchased a new stake in shares of KLA in the third quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in shares of KLA in the third quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC purchased a new stake in shares of KLA in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In other news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the sale, the executive vice president now directly owns 16,922 shares in the company, valued at $11,809,017.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Bren D. Higgins sold 7,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the sale, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus upped their target price on shares of KLA from $685.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group increased their price target on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 price target for the company. Raymond James increased their price target on shares of KLA from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Wells Fargo & Company increased their price target on shares of KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and a consensus price target of $688.42.

KLA Price Performance

Shares of KLAC stock traded up $17.45 during trading hours on Tuesday, hitting $695.94. The company’s stock had a trading volume of 496,359 shares, compared to its average volume of 952,557. The business has a fifty day moving average of $681.28 and a 200-day moving average of $589.12. The stock has a market cap of $94.11 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 3.32 and a beta of 1.34. KLA Co. has a twelve month low of $355.88 and a twelve month high of $729.15. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, beating the consensus estimate of $5.91 by $0.25. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $7.38 earnings per share. As a group, equities research analysts anticipate that KLA Co. will post 22.65 EPS for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $1.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. KLA’s dividend payout ratio is presently 29.46%.

KLA Company Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.