State of Tennessee Treasury Department Cuts Holdings in KLA Corporation (NASDAQ:KLAC)

State of Tennessee Treasury Department decreased its position in shares of KLA Corporation (NASDAQ:KLAC) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,755 shares of the semiconductor company’s stock after selling 31,398 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of KLA worth $24,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of KLAC. Boston Partners grew its position in shares of KLA by 132.7% during the third quarter. Boston Partners now owns 3,050,833 shares of the semiconductor company’s stock valued at $486,716,000 after purchasing an additional 1,739,882 shares in the last quarter. BlackRock Inc. grew its position in KLA by 4.0% in the second quarter. BlackRock Inc. now owns 12,248,818 shares of the semiconductor company’s stock worth $1,447,811,000 after acquiring an additional 470,708 shares in the last quarter. First Trust Advisors LP grew its position in KLA by 36.4% in the fourth quarter. First Trust Advisors LP now owns 994,775 shares of the semiconductor company’s stock worth $177,239,000 after acquiring an additional 265,484 shares in the last quarter. Scout Investments Inc. purchased a new position in KLA in the fourth quarter worth about $38,455,000. Finally, Cookson Peirce & Co. Inc. grew its position in KLA by 675.8% in the third quarter. Cookson Peirce & Co. Inc. now owns 208,910 shares of the semiconductor company’s stock worth $33,311,000 after acquiring an additional 181,980 shares in the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.

Shares of NASDAQ:KLAC traded down $2.44 during trading hours on Friday, hitting $176.28. 853,859 shares of the company’s stock traded hands, compared to its average volume of 1,257,730. KLA Corporation has a 1 year low of $101.34 and a 1 year high of $184.50. The business has a fifty day moving average price of $175.39 and a 200-day moving average price of $162.06. The firm has a market capitalization of $27.65 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.55 and a quick ratio of 1.82.

KLA (NASDAQ:KLAC) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.08. KLA had a return on equity of 50.92% and a net margin of 21.55%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, equities analysts predict that KLA Corporation will post 10.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Saturday, February 22nd will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.40 annualized dividend and a dividend yield of 1.93%. KLA’s dividend payout ratio (DPR) is presently 40.19%.

In other news, insider Ahmad A. Khan sold 4,142 shares of KLA stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.13, for a total transaction of $729,530.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Oreste Donzella sold 590 shares of KLA stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $168.35, for a total transaction of $99,326.50. Following the sale, the executive vice president now directly owns 5,377 shares of the company’s stock, valued at approximately $905,217.95. The disclosure for this sale can be found here. Insiders have sold 7,657 shares of company stock valued at $1,344,037 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Several research analysts recently commented on KLAC shares. Credit Suisse Group lifted their price target on KLA from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on KLA from $162.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. UBS Group lowered KLA from a “buy” rating to a “sell” rating and dropped their price target for the stock from $192.00 to $140.00 in a research report on Wednesday, November 27th. BidaskClub lowered KLA from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 7th. Finally, ValuEngine lowered KLA from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $172.38.

KLA Profile

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.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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