567 Shares in KLA Co. (NASDAQ:KLAC) Purchased by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC acquired a new stake in shares of KLA Co. (NASDAQ:KLAC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 567 shares of the semiconductor company’s stock, valued at approximately $357,000.

Several other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC lifted its position in KLA by 300.0% during 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 purchased a new stake in KLA in the fourth quarter worth about $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA during the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD lifted its holdings in shares of KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of KLA during the fourth quarter valued at approximately $43,000. Institutional investors own 86.65% of the company’s stock.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer now directly owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

KLA Stock Down 1.3%

KLA stock opened at $757.17 on Friday. The stock has a market cap of $100.13 billion, a PE ratio of 31.84, 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. The stock has a fifty day moving average of $695.61 and a 200 day moving average of $691.83. KLA Co. has a one year low of $551.33 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.26 EPS. As a group, sell-side analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA declared that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio (DPR) is currently 27.63%.

Analyst Upgrades and Downgrades

KLAC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on KLA from $950.00 to $900.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lowered their price target on KLA from $870.00 to $868.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Oppenheimer lifted their price target on KLA from $700.00 to $740.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $800.00 target price on shares of KLA in a report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $799.58.

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.