Envestnet Portfolio Solutions Inc. Increases Stock Holdings in KLA Co. (NASDAQ:KLAC)

Envestnet Portfolio Solutions Inc. raised its stake in KLA Co. (NASDAQ:KLAC - Free Report) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,732 shares of the semiconductor company's stock after purchasing an additional 1,976 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in KLA were worth $6,100,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KLAC. Fortitude Family Office LLC purchased a new position in KLA in the 4th quarter valued at $25,000. Frazier Financial Advisors LLC acquired a new stake in KLA in the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in KLA in the fourth quarter valued at $28,000. Addison Advisors LLC acquired a new stake in KLA in the fourth quarter valued at $29,000. Finally, Jones Financial Companies Lllp lifted its holdings in KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 61 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Trading Up 0.6 %

Shares of NASDAQ:KLAC traded up $4.77 during trading on Friday, reaching $857.72. 655,145 shares of the stock were exchanged, compared to its average volume of 884,659. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. KLA Co. has a 12-month low of $440.15 and a 12-month high of $896.32. The firm has a market cap of $115.48 billion, a price-to-earnings ratio of 45.62, a price-to-earnings-growth ratio of 3.53 and a beta of 1.27. The firm's 50-day moving average price is $792.25 and its 200 day moving average price is $697.97.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The business had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.31 billion. During the same quarter in the previous year, the business earned $5.49 EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that KLA Co. will post 23.3 earnings per share for the current fiscal year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 14th. KLA's payout ratio is 30.38%.

Insider Buying and Selling at KLA

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the transaction, the chief executive officer now owns 93,142 shares of the company's stock, valued at approximately $66,748,351.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Richard P. Wallace sold 14,009 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now directly owns 93,142 shares of the company's stock, valued at $66,748,351.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 44 shares of the firm's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,905 shares of company stock valued at $16,831,966 in the last three months. Corporate insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KLAC shares. Cantor Fitzgerald lifted their price target on KLA from $625.00 to $800.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. StockNews.com downgraded KLA from a "buy" rating to a "hold" rating in a research note on Monday, July 1st. Evercore ISI started coverage on KLA in a research note on Tuesday, April 16th. They set an "outperform" rating and a $800.00 price target for the company. TD Cowen lifted their price target on KLA from $650.00 to $700.00 and gave the stock a "hold" rating in a research note on Friday, April 26th. Finally, Raymond James boosted their target price on shares of KLA from $750.00 to $875.00 and gave the company an "outperform" rating in a research note on Friday, June 7th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $747.40.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.

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