OMERS ADMINISTRATION Corp Trims Stake in KLA Co. (NASDAQ:KLAC)

OMERS ADMINISTRATION Corp cut its position in KLA Co. (NASDAQ:KLAC) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,368 shares of the semiconductor company’s stock after selling 146 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in KLA were worth $4,643,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of KLA by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company’s stock valued at $8,496,833,000 after purchasing an additional 85,370 shares during the period. Capital International Investors boosted its position in shares of KLA by 0.4% in the 4th quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company’s stock valued at $2,273,118,000 after purchasing an additional 14,397 shares during the period. Geode Capital Management LLC boosted its position in shares of KLA by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company’s stock valued at $2,046,472,000 after purchasing an additional 31,608 shares during the period. Norges Bank acquired a new stake in shares of KLA in the 4th quarter valued at about $1,175,756,000. Finally, Northern Trust Corp boosted its position in shares of KLA by 13.8% in the 4th quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company’s stock valued at $1,061,878,000 after purchasing an additional 204,330 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KLA

In other news, CEO Richard P. Wallace sold 10,802 shares of the firm’s 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 $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bren D. Higgins sold 7,008 shares of KLA 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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on KLAC. TD Cowen upped 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. Morgan Stanley reduced their price objective on KLA from $870.00 to $868.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. 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. UBS Group increased their target price on KLA from $690.00 to $740.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $802.74.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $795.90 on Wednesday. The business’s fifty day moving average price is $681.09 and its two-hundred day moving average price is $685.71. The stock has a market cap of $105.25 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. 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 one year low of $551.33 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last announced 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 for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $5.26 EPS. KLA’s quarterly revenue was up 35.5% on a year-over-year basis. On average, analysts forecast that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA declared that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.90 per share. This is a boost 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 annualized dividend and a dividend yield of 0.95%. KLA’s dividend payout ratio (DPR) is 27.63%.

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.