KLA Co. (NASDAQ:KLAC) Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,591 shares of the semiconductor company’s stock after selling 1,421 shares during the quarter. KLA accounts for approximately 1.6% of Todd Asset Management LLC’s holdings, making the stock its 6th biggest position. Todd Asset Management LLC’s holdings in KLA were worth $74,169,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. lifted its position in shares of KLA by 7.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System increased its position in KLA by 5.9% during the fourth quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock worth $23,059,000 after buying an additional 2,200 shares in the last quarter. Meritage Portfolio Management raised its holdings in shares of KLA by 6.8% in the fourth quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock worth $15,478,000 after acquiring an additional 1,692 shares during the last quarter. Chico Wealth RIA increased its position in KLA by 287.0% during the 4th quarter. Chico Wealth RIA now owns 3,870 shares of the semiconductor company’s stock worth $2,250,000 after purchasing an additional 2,870 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in KLA by 48.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 43,484 shares of the semiconductor company’s stock valued at $25,277,000 after purchasing an additional 14,251 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Up 2.1 %

Shares of KLAC stock traded up $14.54 during mid-day trading on Friday, reaching $696.59. 820,130 shares of the company were exchanged, compared to its average volume of 889,883. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The business’s 50 day simple moving average is $688.02 and its 200 day simple moving average is $607.66. The company has a market capitalization of $93.79 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.97 and a beta of 1.33. KLA Co. has a fifty-two week low of $369.66 and a fifty-two week high of $729.15.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $5.49 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts predict that KLA Co. will post 23.24 earnings per share for the current year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, May 14th. KLA’s dividend payout ratio (DPR) is presently 30.38%.

Analyst Ratings Changes

Several research firms recently weighed in on KLAC. JPMorgan Chase & Co. increased their target price on KLA from $565.00 to $725.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. StockNews.com raised shares of KLA from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company upped their price target on shares of KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Evercore ISI initiated coverage on shares of KLA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price target on the stock. Finally, Cantor Fitzgerald increased their target price on KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $722.26.

Insider Transactions at KLA

In other news, 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 completion of the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of 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 disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

About KLA

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.