Kayne Anderson Rudnick Investment Management LLC Buys 1,249 Shares of KLA Co. (NASDAQ:KLAC)

Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,272 shares of the semiconductor company's stock after purchasing an additional 1,249 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in KLA were worth $16,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in KLAC. MetLife Investment Management LLC boosted its stake in KLA by 0.6% in the 4th quarter. MetLife Investment Management LLC now owns 41,362 shares of the semiconductor company's stock valued at $26,063,000 after buying an additional 267 shares in the last quarter. Norinchukin Bank The raised its holdings in KLA by 7.4% during the 4th quarter. Norinchukin Bank The now owns 7,130 shares of the semiconductor company's stock worth $4,493,000 after buying an additional 489 shares during the period. Ossiam boosted its position in shares of KLA by 131.2% during the fourth quarter. Ossiam now owns 75,851 shares of the semiconductor company's stock worth $47,795,000 after buying an additional 43,046 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in KLA by 27.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 103,058 shares of the semiconductor company's stock worth $64,939,000 after buying an additional 22,287 shares in the last quarter. Finally, BOS Asset Management LLC raised its stake in shares of KLA by 6.8% during the 4th quarter. BOS Asset Management LLC now owns 1,291 shares of the semiconductor company's stock worth $813,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on KLAC. Susquehanna increased their target price on shares of KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Oppenheimer decreased their target price on KLA from $850.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Citigroup cut their target price on shares of KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. 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 report on Friday, March 28th. Finally, Barclays cut their target price on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $804.67.

Insiders Place Their Bets

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm'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 owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.12% of the company's stock.

KLA Stock Performance

Shares of KLAC stock traded up $5.19 during mid-day trading on Friday, reaching $694.61. The stock had a trading volume of 631,546 shares, compared to its average volume of 1,062,259. The firm's 50 day simple moving average is $686.89 and its 200 day simple moving average is $687.36. 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 firm has a market cap of $92.30 billion, a PE ratio of 29.21, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a one year low of $551.33 and a one year high of $896.32.

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 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%. On average, analysts forecast that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio (DPR) is currently 28.60%.

About KLA

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.