Pitcairn Co. Has $854,000 Position in KLA Co. (NASDAQ:KLAC)

Pitcairn Co. lowered its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 45.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,355 shares of the semiconductor company's stock after selling 1,144 shares during the period. Pitcairn Co.'s holdings in KLA were worth $854,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in KLA in the 3rd quarter valued at approximately $29,000. Tortoise Investment Management LLC increased its position in KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC acquired a new position in KLA during the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in KLA in the 4th quarter worth $32,000. Finally, Groupama Asset Managment increased its holdings in shares of KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 2,038 shares during the period. Institutional investors own 86.65% of the company's stock.

Insider Buying and Selling at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KLAC. Jefferies Financial Group reissued a "hold" rating and set a $725.00 target price (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft upped their target price on KLA from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Needham & Company LLC boosted their price target on shares of KLA from $800.00 to $830.00 and gave the company a "buy" rating in a report on Friday, January 31st. UBS Group raised their price objective on shares of KLA from $665.00 to $780.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Finally, Morgan Stanley raised shares of KLA from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $748.00 to $870.00 in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $832.17.

KLA Stock Down 7.3 %

KLA stock traded down $51.45 during midday trading on Thursday, reaching $651.86. The stock had a trading volume of 986,948 shares, compared to its average volume of 1,042,723. 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 Co. has a 1-year low of $551.33 and a 1-year high of $896.32. The stock has a market capitalization of $86.62 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The firm's fifty day simple moving average is $708.82 and its 200-day simple moving average is $696.23.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly 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 net margin of 29.58% and a return on equity of 108.60%. As a group, analysts expect 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 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Monday, February 24th. KLA's dividend payout ratio (DPR) is currently 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.