Systematic Financial Management LP Decreases Stock Holdings in KLA Co. (NASDAQ:KLAC)

Systematic Financial Management LP lowered its holdings in shares of KLA Co. (NASDAQ:KLAC) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,941 shares of the semiconductor company’s stock after selling 15 shares during the quarter. Systematic Financial Management LP’s holdings in KLA were worth $1,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tortoise Investment Management LLC grew its stake in shares of KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC bought a new position in shares of KLA during the 4th quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of KLA during the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD grew its stake in shares of KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of KLA during the 4th quarter valued at approximately $43,000. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Down 1.8%

NASDAQ KLAC opened at $791.17 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company has a market capitalization of $104.63 billion, a P/E ratio of 33.27, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The stock has a 50 day moving average price of $688.05 and a 200-day moving average price of $688.07.

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

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

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, May 19th. This is a positive change from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio is presently 27.63%.

Insider Activity at KLA

In related news, 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 sale, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, 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 position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KLAC shares. TD Cowen boosted their price objective on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Wells Fargo & Company upped their price target on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. TD Securities upped their price target on KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Susquehanna upped their price target on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Cowen restated a “hold” rating on shares of KLA in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus price target 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.