Applied Finance Capital Management LLC Acquires 6,280 Shares of KLA Co. (NASDAQ:KLAC)

Applied Finance Capital Management LLC raised its stake in KLA Co. (NASDAQ:KLACFree Report) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,433 shares of the semiconductor company’s stock after acquiring an additional 6,280 shares during the quarter. KLA makes up 3.4% of Applied Finance Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Applied Finance Capital Management LLC’s holdings in KLA were worth $38,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Paradice Investment Management LLC acquired a new position in KLA during the fourth quarter worth approximately $227,000. New Century Financial Group LLC acquired a new stake in shares of KLA in the fourth quarter valued at about $365,000. Great Lakes Advisors LLC raised its holdings in shares of KLA by 13.6% during the 4th quarter. Great Lakes Advisors LLC now owns 1,164 shares of the semiconductor company’s stock valued at $677,000 after buying an additional 139 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in KLA during the 4th quarter worth approximately $4,319,000. Finally, Navellier & Associates Inc. raised its stake in shares of KLA by 23.9% during the fourth quarter. Navellier & Associates Inc. now owns 3,679 shares of the semiconductor company’s stock valued at $2,139,000 after purchasing an additional 710 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

NASDAQ KLAC traded down $1.80 on Friday, reaching $747.68. 585,874 shares of the stock traded hands, compared to its average volume of 861,822. KLA Co. has a 12 month low of $404.80 and a 12 month high of $763.93. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. The firm’s fifty day simple moving average is $693.70 and its 200 day simple moving average is $625.04. The company has a market cap of $100.67 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 3.19 and a beta of 1.33.

KLA (NASDAQ:KLACGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. KLA’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.49 earnings per share. As a group, research analysts predict that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Tuesday, May 14th. KLA’s dividend payout ratio is presently 30.38%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KLAC. TD Cowen boosted their price objective on shares of KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of KLA in a research note on Thursday, April 11th. They issued a “buy” rating and a $800.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Raymond James reiterated an “outperform” rating and issued a $750.00 target price (up previously from $625.00) on shares of KLA in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on KLA from $760.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $727.15.

Check Out Our Latest Report on KLA

Insider Buying and Selling

In related news, EVP Oreste Donzella sold 3,257 shares of the 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 transaction, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the transaction, the chief executive officer now directly owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 24,284 shares of company stock worth $17,260,138 in the last three months. 0.12% of the stock is currently owned by insiders.

KLA Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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