Dynamic Advisor Solutions LLC Grows Holdings in KLA Co. (NASDAQ:KLAC)

Dynamic Advisor Solutions LLC boosted its holdings in KLA Co. (NASDAQ:KLAC) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,093 shares of the semiconductor company’s stock after purchasing an additional 36 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in KLA were worth $2,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tortoise Investment Management LLC raised 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 purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new stake in KLA in the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in KLA in the 4th quarter valued at $32,000. Fairfield Financial Advisors LTD raised 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 purchasing an additional 40 shares during the last quarter. Finally, Hurley Capital LLC purchased a new position in KLA during the 4th quarter worth $51,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer now owns 27,779 shares in the company, valued at $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,829 shares of company stock valued at $13,240,166. Insiders own 0.12% of the company’s stock.

KLA Price Performance

KLA stock opened at $892.38 on Tuesday. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32. The stock has a market capitalization of $118.01 billion, a P/E ratio of 37.53, a P/E/G ratio of 1.57 and a beta of 1.40. The firm’s 50-day moving average is $740.39 and its two-hundred day moving average is $710.94. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

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

KLA declared that its board has approved a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a $1.90 dividend. The ex-dividend date was Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.85%. KLA’s dividend payout ratio (DPR) is currently 27.63%.

Analysts Set New Price Targets

A number of equities analysts have commented on KLAC shares. Cantor Fitzgerald restated a “neutral” rating and set a $800.00 price objective on shares of KLA in a research report on Thursday, May 1st. TD Securities upped their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of KLA from a “buy” rating to a “hold” rating and set a $790.00 price objective for the company. in a research report on Tuesday, May 20th. Needham & Company LLC restated a “buy” rating and set a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, Oppenheimer upped their price objective on shares of KLA from $700.00 to $740.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $795.39.

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.