DnB Asset Management AS Has $27.71 Million Position in KLA Co. (NASDAQ:KLAC)

DnB Asset Management AS decreased its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,981 shares of the semiconductor company's stock after selling 1,670 shares during the quarter. DnB Asset Management AS's holdings in KLA were worth $27,713,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KLAC. Diversify Advisory Services LLC lifted its position in shares of KLA by 22.7% in the fourth quarter. Diversify Advisory Services LLC now owns 648 shares of the semiconductor company's stock valued at $443,000 after buying an additional 120 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in KLA by 27.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 9,778 shares of the semiconductor company's stock worth $6,161,000 after acquiring an additional 2,112 shares during the last quarter. Milestone Asset Management LLC acquired a new position in shares of KLA in the fourth quarter valued at approximately $1,563,000. Townsquare Capital LLC lifted its holdings in KLA by 60.4% during the 3rd quarter. Townsquare Capital LLC now owns 2,705 shares of the semiconductor company's stock worth $2,095,000 after purchasing an additional 1,019 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its stake in KLA by 15.2% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 60,834 shares of the semiconductor company's stock valued at $38,326,000 after purchasing an additional 8,028 shares during the period. Institutional investors own 86.65% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Needham & Company LLC lifted their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. The Goldman Sachs Group raised their target price on shares of KLA from $759.00 to $864.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Cantor Fitzgerald boosted their price target on KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $832.17.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of KLA stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.12% of the company's stock.

KLA Price Performance

Shares of KLA stock traded up $2.76 during midday trading on Tuesday, hitting $682.56. 452,209 shares of the company traded hands, compared to its average volume of 1,007,042. The firm's fifty day moving average price is $726.28 and its 200-day moving average price is $702.34. The stock has a market cap of $90.70 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.57 and a beta of 1.30. KLA Co. has a 12 month low of $609.40 and a 12 month high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36.

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

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, February 24th. KLA's payout ratio is 28.60%.

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.