Kane Investment Management Inc. Takes $1.41 Million Position in KLA Co. (NASDAQ:KLAC)

Kane Investment Management Inc. bought a new stake in KLA Co. (NASDAQ:KLAC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,232 shares of the semiconductor company's stock, valued at approximately $1,406,000.

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

KLA Trading Down 1.2 %

NASDAQ:KLAC traded down $7.76 on Friday, hitting $634.43. The stock had a trading volume of 1,224,102 shares, compared to its average volume of 1,057,816. The stock has a market cap of $84.31 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.57 and a beta of 1.37. KLA Co. has a 1-year low of $551.33 and a 1-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. The company has a fifty day moving average price of $697.62 and a two-hundred day moving average price of $691.75.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 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%. Equities research analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

KLAC has been the subject of several recent analyst reports. Jefferies Financial Group restated a "hold" rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Needham & Company LLC increased their target price on KLA from $800.00 to $830.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Cantor Fitzgerald upped their price objective on shares of KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Morgan Stanley raised shares of KLA from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $748.00 to $870.00 in a research note on Monday, March 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a report 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, the company has a consensus rating of "Moderate Buy" and an average target price of $814.11.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the business's 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 sale, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is owned by insiders.

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.