Flputnam Investment Management Co. Lowers Stock Holdings in KLA Co. (NASDAQ:KLAC)

Flputnam Investment Management Co. trimmed its stake in KLA Co. (NASDAQ:KLAC) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,092 shares of the semiconductor company’s stock after selling 154 shares during the period. Flputnam Investment Management Co.’s holdings in KLA were worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in KLA by 5.9% in the 4th quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock valued at $23,059,000 after buying an additional 2,200 shares during the period. Chico Wealth RIA lifted its position in shares of KLA by 287.0% in the 4th quarter. Chico Wealth RIA now owns 3,870 shares of the semiconductor company’s stock worth $2,250,000 after purchasing an additional 2,870 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of KLA by 48.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 43,484 shares of the semiconductor company’s stock worth $25,277,000 after purchasing an additional 14,251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of KLA in the 4th quarter worth approximately $4,754,000. Finally, Cerity Partners LLC lifted its position in shares of KLA by 58.3% in the 4th quarter. Cerity Partners LLC now owns 64,156 shares of the semiconductor company’s stock worth $37,294,000 after purchasing an additional 23,635 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of NASDAQ:KLAC traded up $8.39 during midday trading on Tuesday, reaching $686.88. The company’s stock had a trading volume of 78,272 shares, compared to its average volume of 947,134. The firm has a market capitalization of $92.89 billion, a PE ratio of 34.46, a P/E/G ratio of 3.32 and a beta of 1.34. KLA Co. has a twelve month low of $355.88 and a twelve month high of $729.15. The stock has a fifty day moving average of $681.28 and a 200 day moving average of $589.12. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 1.69.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $0.25. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.38 earnings per share. On average, equities analysts expect that KLA Co. will post 22.65 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $1.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 annualized dividend and a yield of 0.84%. KLA’s dividend payout ratio is currently 29.46%.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the transaction, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the transaction, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KLAC shares. Raymond James upped their price target on shares of KLA from $550.00 to $625.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. TD Cowen upped their price target on shares of KLA from $525.00 to $650.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. New Street Research assumed coverage on shares of KLA in a research report on Monday, December 18th. They issued a “buy” rating and a $730.00 price target for the company. Berenberg Bank boosted their price objective on shares of KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus boosted their price objective on shares of KLA from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.42.

KLA Company Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.