KLA Co. (NASDAQ:KLAC) Stake Boosted by Nomura Holdings Inc.

Nomura Holdings Inc. lifted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 63.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,478 shares of the semiconductor company’s stock after buying an additional 4,857 shares during the period. Nomura Holdings Inc.’s holdings in KLA were worth $7,863,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KLAC. Norges Bank acquired a new stake in KLA during the 4th quarter valued at $1,175,756,000. Parnassus Investments LLC lifted its stake in shares of KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock valued at $462,085,000 after buying an additional 580,967 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock valued at $215,809,000 after buying an additional 342,189 shares during the period. Capital Research Global Investors acquired a new position in KLA in the fourth quarter worth about $187,212,000. Finally, Pictet Asset Management Holding SA raised its position in KLA by 25.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company’s stock worth $916,926,000 after purchasing an additional 292,907 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Price Performance

NASDAQ KLAC opened at $805.00 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The stock’s fifty day moving average price is $682.96 and its 200 day moving average price is $686.53. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The company has a market cap of $106.45 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 29.58% and a return on equity of 108.60%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company earned $5.26 EPS. KLA’s revenue was up 35.5% compared to the same quarter last year. As a group, equities research analysts forecast that KLA Co. will post 31.59 earnings per share for the current year.

KLA announced that its board has initiated a stock repurchase program on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

KLA Increases Dividend

The business also recently disclosed 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 is a positive change from KLA’s previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, May 19th. KLA’s dividend payout ratio is currently 27.63%.

Insider Activity

In other news, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares of the company’s stock, valued at $20,867,606.76. This trade represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of KLA in a report on Thursday, May 1st. TD Cowen lifted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. TD Securities boosted their price objective on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, Oppenheimer lifted their price target on shares of KLA from $700.00 to $740.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.74.

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.