NorthCrest Asset Manangement LLC Grows Stock Holdings in KLA Co. (NASDAQ:KLAC)

NorthCrest Asset Manangement LLC boosted its position in KLA Co. (NASDAQ:KLAC) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 832 shares of the semiconductor company’s stock after acquiring an additional 81 shares during the period. NorthCrest Asset Manangement LLC’s holdings in KLA were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KLAC. Anchor Investment Management LLC increased its position in KLA by 12.0% during the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company’s stock worth $88,000 after buying an additional 15 shares during the last quarter. Avantax Planning Partners Inc. increased its position in KLA by 2.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company’s stock worth $359,000 after buying an additional 16 shares during the last quarter. Sunflower Bank N.A. increased its position in KLA by 4.7% during the first quarter. Sunflower Bank N.A. now owns 381 shares of the semiconductor company’s stock worth $259,000 after buying an additional 17 shares during the last quarter. Souders Financial Advisors increased its position in KLA by 4.4% during the fourth quarter. Souders Financial Advisors now owns 431 shares of the semiconductor company’s stock worth $272,000 after buying an additional 18 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in KLA by 3.4% during the fourth quarter. Continuum Advisory LLC now owns 544 shares of the semiconductor company’s stock worth $343,000 after buying an additional 18 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Down 0.8%

Shares of KLAC opened at $867.67 on Monday. The stock has a market cap of $114.74 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 1.57 and a beta of 1.40. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32. The company has a 50-day moving average price of $734.54 and a two-hundred day moving average price of $709.23.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts’ consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.26 earnings per share. Equities analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently declared 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 is a boost from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.88%. KLA’s dividend payout ratio (DPR) is currently 27.63%.

KLA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cowen reissued a “hold” rating on shares of KLA 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. Wall Street Zen downgraded KLA from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Citigroup lowered their price target on KLA from $910.00 to $800.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen raised 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. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $795.39.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 27,779 shares of the company’s stock, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction that occurred 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 directly owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,829 shares of company stock valued at $13,240,166. Corporate insiders own 0.12% of the company’s stock.

KLA 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.