KLA Co. (NASDAQ:KLAC) Stake Raised by Jensen Investment Management Inc.

Jensen Investment Management Inc. increased its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 571,035 shares of the semiconductor company's stock after buying an additional 22,045 shares during the period. KLA comprises about 3.9% of Jensen Investment Management Inc.'s holdings, making the stock its 9th biggest position. Jensen Investment Management Inc. owned about 0.42% of KLA worth $470,824,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in KLAC. Family Firm Inc. purchased a new position in shares of KLA in the second quarter valued at $30,000. Cedar Wealth Management LLC increased its position in shares of KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock valued at $27,000 after buying an additional 17 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of KLA in the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new stake in shares of KLA in the fourth quarter worth about $28,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of KLA in the second quarter valued at approximately $44,000. Institutional investors own 86.65% of the company's stock.

KLA Trading Down 3.5 %

Shares of NASDAQ KLAC traded down $25.26 during trading hours on Friday, hitting $702.80. The company's stock had a trading volume of 1,390,579 shares, compared to its average volume of 932,352. KLA Co. has a 12 month low of $440.15 and a 12 month high of $896.32. The stock has a market cap of $94.62 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.50 and a current ratio of 2.15. The business has a 50-day simple moving average of $796.54 and a 200-day simple moving average of $750.59.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping analysts' consensus estimates of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $5.40 EPS. On average, analysts anticipate that KLA Co. will post 29.09 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, August 15th. KLA's payout ratio is 30.38%.

Insider Activity at KLA

In other news, EVP Brian Lorig sold 44 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company's stock, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Brian Lorig sold 44 shares of the company's stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the sale, the executive vice president now directly owns 14,211 shares of the company's stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mary Beth Wilkinson sold 2,611 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $652.17, for a total transaction of $1,702,815.87. Following the completion of the transaction, the executive vice president now owns 9,298 shares of the company's stock, valued at $6,063,876.66. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock worth $14,568,247 over the last 90 days. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KLAC shares. Citigroup dropped their price target on KLA from $990.00 to $960.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of KLA from $860.00 to $950.00 and gave the company an "overweight" rating in a research report on Monday, June 17th. Evercore ISI upped their target price on shares of KLA from $800.00 to $900.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Jefferies Financial Group initiated coverage on KLA in a research note on Monday, May 13th. They issued a "buy" rating and a $820.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $950.00 price target on shares of KLA in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, KLA currently has a consensus rating of "Moderate Buy" and a consensus price target of $805.29.

KLA Company 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.