3,964 Shares in KLA Co. (NASDAQ:KLAC) Purchased by Allstate Corp

Allstate Corp purchased a new stake in KLA Co. (NASDAQ:KLAC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,964 shares of the semiconductor company's stock, valued at approximately $2,498,000.

Other hedge funds have also added to or reduced their stakes in the company. Hutchens & Kramer Investment Management Group LLC raised its holdings in KLA by 3.3% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company's stock worth $259,000 after purchasing an additional 13 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of KLA by 5.9% in the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company's stock worth $160,000 after acquiring an additional 14 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of KLA by 6.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company's stock worth $155,000 after acquiring an additional 15 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in KLA by 2.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock valued at $476,000 after acquiring an additional 15 shares during the period. Finally, TFB Advisors LLC grew its holdings in KLA by 3.4% in the fourth quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company's stock worth $308,000 after purchasing an additional 16 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have recently commented on KLAC shares. Susquehanna boosted their price target on KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $725.00 target price (down from $875.00) on shares of KLA in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft raised their price target on KLA from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, January 31st. Needham & Company LLC upped their price target on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group raised their price objective on shares of KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $832.17.

KLA Stock Performance

KLAC traded down $48.46 during trading on Thursday, hitting $637.73. The company's stock had a trading volume of 271,715 shares, compared to its average volume of 1,004,581. The business's 50 day simple moving average is $722.87 and its 200-day simple moving average is $701.74. The firm has a market cap of $84.75 billion, a PE ratio of 26.82, a P/E/G ratio of 1.57 and a beta of 1.30. KLA Co. has a one year low of $609.40 and a one year high of $896.32. 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 (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts' consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. As a group, sell-side analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.07%. KLA's payout ratio is currently 28.60%.

Insider Buying and Selling

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

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.