Range Financial Group LLC Buys 187 Shares of KLA Co. (NASDAQ:KLAC)

Range Financial Group LLC boosted its stake in KLA Co. (NASDAQ:KLAC) by 28.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 847 shares of the semiconductor company’s stock after acquiring an additional 187 shares during the quarter. Range Financial Group LLC’s holdings in KLA were worth $576,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KLAC. Tortoise Investment Management LLC lifted its position in KLA by 300.0% in 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 in the last quarter. TCTC Holdings LLC acquired a new stake in KLA in the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA in the 4th quarter valued at $32,000. Fairfield Financial Advisors LTD increased its stake in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in KLA in the 4th quarter valued at $43,000. 86.65% of the stock is owned by institutional investors.

KLA Stock Up 2.0%

Shares of KLAC opened at $808.00 on Monday. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32. The firm has a market cap of $106.85 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The firm’s 50-day simple moving average is $710.28 and its 200 day simple moving average is $701.39. 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 (NASDAQ:KLAC) last announced its quarterly 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 net margin of 29.58% and a return on equity of 108.60%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business 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 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.94%. This is a positive change from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio is 27.63%.

KLA announced that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of KLA from $760.00 to $590.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. TD Securities lifted their price target on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $725.00 price target (down from $875.00) on shares of KLA in a research note on Friday, March 28th. TD Cowen lifted their price target on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Cowen reiterated a “hold” rating on shares of KLA in a research note on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $795.39.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,829 shares of company stock worth $13,240,166. Insiders own 0.12% of the company’s stock.

KLA Company 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.