Metis Global Partners LLC Cuts Stake in KLA Co. (NASDAQ:KLAC)

Metis Global Partners LLC cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,448 shares of the semiconductor company’s stock after selling 446 shares during the period. Metis Global Partners LLC’s holdings in KLA were worth $3,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KLAC. Intact Investment Management Inc. raised its holdings in shares of KLA by 7.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock worth $843,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System increased its position in shares of KLA by 5.9% in the 4th quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock valued at $23,059,000 after acquiring an additional 2,200 shares during the period. Meritage Portfolio Management raised its stake in KLA by 6.8% in the 4th 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 lifted 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 acquiring an additional 2,870 shares during the period. Finally, Crestwood Advisors Group LLC grew its stake in KLA by 48.7% during 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. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on KLAC shares. Wells Fargo & Company lifted their target price on KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of KLA from $560.00 to $640.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. UBS Group boosted their target price on shares of KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Evercore ISI initiated coverage on KLA in a research report on Tuesday, April 16th. They set an “outperform” rating and a $800.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.26.

KLA Price Performance

NASDAQ KLAC traded up $21.79 during mid-day trading on Monday, hitting $718.38. The stock had a trading volume of 754,708 shares, compared to its average volume of 957,593. The firm’s 50 day moving average is $688.02 and its 200 day moving average is $608.56. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46. The stock has a market capitalization of $96.72 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 2.97 and a beta of 1.33. KLA Co. has a twelve month low of $374.49 and a twelve month high of $729.15.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $5.49 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts forecast that KLA Co. will post 23.24 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $1.45 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.80 annualized dividend and a dividend yield of 0.81%. KLA’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Oreste Donzella sold 3,257 shares of KLA 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 sale, 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 Securities & Exchange Commission, which is available at this link. Also, CFO Bren D. Higgins sold 7,018 shares of KLA 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 completion of the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

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.