Nutshell Asset Management Ltd Acquires New Shares in KLA Co. (NASDAQ:KLAC)

Nutshell Asset Management Ltd acquired a new position in shares of KLA Co. (NASDAQ:KLAC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,300 shares of the semiconductor company's stock, valued at approximately $2,710,000. KLA makes up 1.7% of Nutshell Asset Management Ltd's portfolio, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KLAC. Legacy Investment Solutions LLC acquired a new position in KLA during the 3rd quarter valued at about $29,000. Tortoise Investment Management LLC increased its position in KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC bought a new stake in KLA during the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA during the 4th quarter worth $32,000. Finally, Fairfield Financial Advisors LTD increased its holdings in shares of KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 40 shares during the period. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KLAC shares. Cantor Fitzgerald increased their target price on shares of KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Jefferies Financial Group reiterated a "hold" rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a report on Friday, March 28th. Needham & Company LLC boosted their target price on KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company increased their price target on KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Barclays upped their price objective on KLA from $700.00 to $760.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $832.17.

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KLA Stock Down 5.7 %

Shares of KLA stock traded down $40.22 during midday trading on Thursday, hitting $663.09. The company's stock had a trading volume of 1,370,623 shares, compared to its average volume of 1,044,241. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $88.12 billion, a P/E ratio of 27.86, a PEG ratio of 1.57 and a beta of 1.37. The stock has a 50-day simple moving average of $708.82 and a 200-day simple moving average of $696.23.

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

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio (DPR) is currently 28.60%.

Insider Activity

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

About KLA

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.