Ardevora Asset Management LLP Sells 24,220 Shares of KLA Co. (NASDAQ:KLAC)

Ardevora Asset Management LLP lessened its holdings in shares of KLA Co. (NASDAQ:KLAC) by 55.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,610 shares of the semiconductor company’s stock after selling 24,220 shares during the quarter. Ardevora Asset Management LLP’s holdings in KLA were worth $11,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of KLA in the fourth quarter worth about $572,224,000. Alkeon Capital Management LLC lifted its holdings in shares of KLA by 52.8% in the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock worth $530,630,000 after buying an additional 400,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of KLA by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,074,884 shares of the semiconductor company’s stock worth $759,532,000 after buying an additional 385,420 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of KLA by 10.4% in the first quarter. Geode Capital Management LLC now owns 2,844,959 shares of the semiconductor company’s stock worth $1,133,396,000 after buying an additional 268,104 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of KLA by 6,309.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock worth $145,410,000 after buying an additional 246,244 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

KLA Trading Down 2.5 %

Shares of KLAC traded down $16.06 during mid-day trading on Friday, reaching $628.16. The company’s stock had a trading volume of 1,072,881 shares, compared to its average volume of 780,643. The stock has a market cap of $84.95 billion, a PE ratio of 31.90, a P/E/G ratio of 3.13 and a beta of 1.34. 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 Co. has a 52 week low of $355.88 and a 52 week high of $729.15. The company’s fifty day moving average price is $684.19 and its two-hundred day moving average price is $593.77.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, January 25th. The semiconductor company reported $6.16 EPS for the quarter, topping the consensus estimate of $5.91 by $0.25. KLA had a net margin of 27.98% and a return on equity of 107.56%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm earned $7.38 earnings per share. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, analysts predict that KLA Co. will post 22.61 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Thursday, February 15th. KLA’s payout ratio is 29.46%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KLAC. JPMorgan Chase & Co. increased their price target on shares of KLA from $565.00 to $725.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Cantor Fitzgerald increased their price target on shares of KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays raised their target price on shares of KLA from $500.00 to $550.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Bank of America lifted their target price on shares of KLA from $740.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, TD Cowen lifted their target price on shares of KLA from $525.00 to $650.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $688.42.

Insider Buying and Selling

In related news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction 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 transaction, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other KLA news, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.