Meeder Asset Management Inc. grew its stake in KLA Co. (NASDAQ:KLAC) by 1,073.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,501 shares of the semiconductor company’s stock after purchasing an additional 21,498 shares during the period. Meeder Asset Management Inc.’s holdings in KLA were worth $7,765,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. JustInvest LLC raised its holdings in KLA by 111.1% in the 1st quarter. JustInvest LLC now owns 2,210 shares of the semiconductor company’s stock worth $730,000 after purchasing an additional 1,163 shares during the period. US Bancorp DE lifted its position in shares of KLA by 2.2% during the 1st quarter. US Bancorp DE now owns 81,655 shares of the semiconductor company’s stock valued at $26,979,000 after buying an additional 1,742 shares in the last quarter. Park Avenue Securities LLC grew its stake in KLA by 16.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,184 shares of the semiconductor company’s stock valued at $721,000 after acquiring an additional 311 shares during the period. Sonora Investment Management LLC raised its position in KLA by 5.7% during the first quarter. Sonora Investment Management LLC now owns 22,178 shares of the semiconductor company’s stock worth $7,328,000 after acquiring an additional 1,204 shares during the period. Finally, Duncker Streett & Co. Inc. purchased a new position in KLA during the first quarter valued at $73,000. 88.67% of the stock is owned by hedge funds and other institutional investors.
KLAC has been the topic of several research reports. Zacks Investment Research upgraded KLA from a “hold” rating to a “buy” rating and set a $341.00 target price on the stock in a research report on Tuesday, April 20th. Morgan Stanley raised their price target on shares of KLA from $349.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of KLA in a research note on Friday, February 5th. Cowen boosted their target price on KLA from $295.00 to $320.00 and gave the stock a “market perform” rating in a report on Thursday, February 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on KLA from $310.00 to $330.00 and gave the company a “hold” rating in a report on Thursday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $304.59.
KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, April 29th. The semiconductor company reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.26. KLA had a net margin of 21.76% and a return on equity of 65.49%. Equities analysts anticipate that KLA Co. will post 12.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 2nd. Investors of record on Friday, February 19th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.19%. KLA’s dividend payout ratio (DPR) is presently 34.78%.
In related news, EVP Oreste Donzella sold 1,287 shares of the company’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $300.90, for a total value of $387,258.30. Following the completion of the sale, the executive vice president now owns 5,599 shares in the company, valued at approximately $1,684,739.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 4,216 shares of the firm’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $301.60, for a total transaction of $1,271,545.60. Following the transaction, the chief executive officer now directly owns 76,906 shares in the company, valued at $23,194,849.60. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
Further Reading: Understanding Price to Earnings Ratio (PE)
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