KLA Co. (NASDAQ:KLAC) Shares Sold by Blue Fin Capital Inc.

Blue Fin Capital Inc. cut its position in shares of KLA Co. (NASDAQ:KLAC) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the semiconductor company’s stock after selling 18 shares during the quarter. Blue Fin Capital Inc.’s holdings in KLA were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of KLA during the 4th quarter valued at about $1,175,756,000. Parnassus Investments LLC lifted its holdings in KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock worth $462,085,000 after acquiring an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock valued at $215,809,000 after purchasing an additional 342,189 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of KLA by 33.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company’s stock worth $750,638,000 after purchasing an additional 300,015 shares during the period. Finally, Capital Research Global Investors bought a new stake in shares of KLA in the 4th quarter worth approximately $187,212,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer now directly owns 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KLAC. Cantor Fitzgerald reissued a “neutral” rating and set a $800.00 target price on shares of KLA in a research note on Thursday, May 1st. Oppenheimer raised their target price on KLA from $700.00 to $740.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their target price on KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $830.00 price target on shares of KLA in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of KLA from $950.00 to $900.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average target price of $799.58.

KLA Trading Down 1.4%

KLA stock opened at $778.94 on Thursday. The company has a 50 day moving average price of $693.68 and a 200 day moving average price of $690.36. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. The firm has a market capitalization of $103.01 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. KLA’s revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.26 earnings per share. Research analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA declared that its board has approved a share buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

KLA Increases Dividend

The firm also recently announced 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 an increase from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.98%. KLA’s dividend payout ratio is currently 27.63%.

KLA Profile

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.