KLA Co. (NASDAQ:KLAC) Holdings Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,592 shares of the semiconductor company's stock after selling 16,555 shares during the period. California Public Employees Retirement System owned about 0.22% of KLA worth $181,848,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KLAC. United Bank bought a new position in shares of KLA during the third quarter worth about $339,000. Townsquare Capital LLC raised its stake in KLA by 60.4% during the third quarter. Townsquare Capital LLC now owns 2,705 shares of the semiconductor company's stock valued at $2,095,000 after buying an additional 1,019 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in KLA by 2.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,229 shares of the semiconductor company's stock worth $17,214,000 after buying an additional 484 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of KLA in the 3rd quarter worth approximately $95,130,000. Finally, FSA Wealth Management LLC bought a new stake in shares of KLA in the 3rd quarter valued at approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KLAC shares. Susquehanna lifted their price objective on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group reiterated a "hold" rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. The Goldman Sachs Group lifted their target price on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, UBS Group raised their price target on KLA from $665.00 to $780.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $832.17.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value 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. The trade was a 19.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.12% of the company's stock.

KLA Price Performance

Shares of KLA stock traded down $44.29 on Friday, hitting $576.53. The company had a trading volume of 2,071,998 shares, compared to its average volume of 1,014,182. KLA Co. has a 52 week low of $560.54 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The company has a market cap of $76.61 billion, a PE ratio of 24.24, a PEG ratio of 1.57 and a beta of 1.30. The business has a 50-day simple moving average of $716.60 and a 200-day simple moving average of $700.07.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. Research analysts expect that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 1.18%. KLA's dividend payout ratio is currently 28.60%.

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.