KLA Co. (NASDAQ:KLAC) Stock Holdings Trimmed by Westpac Banking Corp

Westpac Banking Corp reduced its position in KLA Co. (NASDAQ:KLAC - Free Report) by 37.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,351 shares of the semiconductor company's stock after selling 800 shares during the period. Westpac Banking Corp's holdings in KLA were worth $851,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KLAC. Huntington National Bank grew its holdings in shares of KLA by 0.7% during the fourth quarter. Huntington National Bank now owns 19,599 shares of the semiconductor company's stock worth $12,350,000 after buying an additional 133 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of KLA by 2.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 3,239 shares of the semiconductor company's stock valued at $2,041,000 after purchasing an additional 87 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of KLA by 94.1% in the fourth quarter. Groupama Asset Managment now owns 8,763 shares of the semiconductor company's stock valued at $5,553,000 after purchasing an additional 4,248 shares during the period. Trexquant Investment LP raised its stake in shares of KLA by 0.6% during the fourth quarter. Trexquant Investment LP now owns 26,363 shares of the semiconductor company's stock worth $16,612,000 after purchasing an additional 157 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of KLA during the fourth quarter worth $754,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Down 8.3 %

Shares of KLA stock traded down $58.47 during trading hours on Thursday, reaching $644.84. 885,454 shares of the company's stock were exchanged, compared to its average volume of 1,042,290. The company has a fifty day moving average of $708.82 and a 200-day moving average of $696.23. KLA Co. has a 52-week low of $551.33 and a 52-week high of $896.32. The firm has a market capitalization of $85.69 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

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

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio (DPR) is presently 28.60%.

Analyst Ratings Changes

KLAC has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Jefferies Financial Group reissued a "hold" rating and set a $725.00 price target (down from $875.00) on shares of KLA in a report on Friday, March 28th. Cantor Fitzgerald lifted their price objective on KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Susquehanna increased their target price on KLA from $620.00 to $655.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley upgraded KLA from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $748.00 to $870.00 in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, KLA has an average rating of "Moderate Buy" and an average target price of $832.17.

Insiders Place Their Bets

In related news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.