Oak Associates Ltd. OH Has $55.85 Million Position in KLA Co. (NASDAQ:KLAC)

Oak Associates Ltd. OH reduced its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,637 shares of the semiconductor company's stock after selling 27,075 shares during the quarter. KLA accounts for approximately 3.9% of Oak Associates Ltd. OH's holdings, making the stock its 6th biggest position. Oak Associates Ltd. OH owned about 0.07% of KLA worth $55,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Hutchens & Kramer Investment Management Group LLC grew its stake in KLA by 3.3% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 411 shares of the semiconductor company's stock worth $259,000 after buying an additional 13 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of KLA by 5.9% during the 4th quarter. Richardson Financial Services Inc. now owns 253 shares of the semiconductor company's stock valued at $160,000 after purchasing an additional 14 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in KLA by 6.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 246 shares of the semiconductor company's stock worth $155,000 after purchasing an additional 15 shares during the period. Catalyst Financial Partners LLC raised its holdings in KLA by 2.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock worth $476,000 after buying an additional 15 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its stake in shares of KLA by 3.1% in the 4th quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company's stock worth $338,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Remove Ads

KLA Stock Performance

KLAC stock traded down $29.12 during mid-day trading on Wednesday, reaching $647.09. 607,059 shares of the stock traded hands, compared to its average volume of 1,051,737. 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 business has a 50-day moving average of $702.07 and a two-hundred day moving average of $693.06. The firm has a market capitalization of $85.99 billion, a PE ratio of 27.21, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a 52 week low of $551.33 and a 52 week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts predict 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. Investors of record on Monday, February 24th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio is 28.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KLAC. Wells Fargo & Company lifted their price objective on shares of KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group increased their price target on shares of KLA from $665.00 to $780.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Cantor Fitzgerald raised their price objective on KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Barclays increased their target price on KLA from $700.00 to $760.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $814.11.

Insider Activity at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on 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 approximately $20,867,606.76. This represents a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is owned by company insiders.

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.