Generate Investment Management Ltd Makes New Investment in KLA Co. (NASDAQ:KLAC)

Generate Investment Management Ltd acquired a new stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,231 shares of the semiconductor company's stock, valued at approximately $3,489,000.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in KLA during the 4th quarter valued at approximately $1,048,728,000. Dakota Wealth Management bought a new position in shares of KLA during the first quarter valued at $627,399,000. Swedbank AB purchased a new position in shares of KLA in the 1st quarter worth about $379,678,000. Wellington Management Group LLP boosted its stake in KLA by 12.2% in the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company's stock worth $2,061,469,000 after purchasing an additional 386,810 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in KLA by 43.4% in the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company's stock worth $580,008,000 after purchasing an additional 301,848 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Insider Activity

In related news, CEO Richard P. Wallace sold 17,437 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company's stock, valued at $74,257,998.29. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Richard P. Wallace sold 17,437 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Lorig sold 44 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the transaction, the executive vice president now owns 14,211 shares of the company's stock, valued at approximately $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold a total of 20,917 shares of company stock worth $14,568,247 over the last quarter. Insiders own 0.12% of the company's stock.

KLA Stock Performance

KLAC traded down $78.00 during midday trading on Tuesday, reaching $741.43. The company had a trading volume of 1,660,394 shares, compared to its average volume of 930,266. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The company has a market cap of $99.83 billion, a P/E ratio of 39.80, a P/E/G ratio of 1.63 and a beta of 1.27. The business has a 50-day moving average of $803.60 and a two-hundred day moving average of $749.93.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating analysts' consensus estimates of $6.15 by $0.45. The company had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. KLA's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.40 EPS. As a group, equities research analysts predict that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, August 15th. KLA's dividend payout ratio (DPR) is currently 30.38%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup reduced their price objective on shares of KLA from $990.00 to $960.00 and set a "buy" rating for the company in a research note on Monday, August 5th. The Goldman Sachs Group increased their target price on KLA from $735.00 to $838.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. TD Cowen boosted their price target on KLA from $700.00 to $760.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Jefferies Financial Group assumed coverage on KLA in a report on Monday, May 13th. They issued a "buy" rating and a $820.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of KLA from $760.00 to $875.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $805.29.

KLA Profile

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.