Albert D Mason Inc. Buys 59 Shares of KLA Co. (NASDAQ:KLAC)

Albert D Mason Inc. lifted its stake in shares of KLA Co. (NASDAQ:KLAC) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,730 shares of the semiconductor company’s stock after purchasing an additional 59 shares during the quarter. KLA comprises 1.7% of Albert D Mason Inc.’s portfolio, making the stock its 9th largest position. Albert D Mason Inc.’s holdings in KLA were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KLAC. Tortoise Investment Management LLC increased 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 during the period. TCTC Holdings LLC acquired a new stake in KLA in the 4th quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA in the 4th quarter valued at approximately $32,000. Fairfield Financial Advisors LTD increased its position 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 acquiring an additional 40 shares during the period. Finally, Hurley Capital LLC acquired a new stake in KLA in the 4th quarter valued at approximately $51,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Up 0.3%

Shares of KLAC stock opened at $875.00 on Friday. The firm has a 50 day moving average price of $729.17 and a two-hundred day moving average price of $706.53. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $115.71 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $5.26 earnings per share. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. As a group, analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA announced that its board has authorized a share buyback 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 generally a sign that the company’s board of directors believes its stock is undervalued.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. KLA’s payout ratio is presently 27.63%.

Insiders Place Their Bets

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares of the company’s stock, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 78,740 shares in the company, valued at $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,829 shares of company stock valued at $13,240,166. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

KLAC has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $830.00 target price on shares of KLA in a research report on Thursday, May 1st. TD Cowen lifted their price target on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on KLA from $950.00 to $900.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group reiterated a “hold” rating and set a $725.00 price target (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Finally, Barclays lowered their price target on KLA from $760.00 to $590.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and a consensus price target of $795.39.

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.