Pictet Asset Management Holding SA Grows Stake in KLA Co. (NASDAQ:KLAC)

Pictet Asset Management Holding SA lifted its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 25.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,455,161 shares of the semiconductor company's stock after purchasing an additional 292,907 shares during the period. KLA comprises approximately 1.0% of Pictet Asset Management Holding SA's holdings, making the stock its 16th biggest position. Pictet Asset Management Holding SA owned approximately 1.10% of KLA worth $916,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in KLA in the fourth quarter worth about $1,175,756,000. Parnassus Investments LLC boosted its position in shares of KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after purchasing an additional 580,967 shares during the period. Proficio Capital Partners LLC increased its stake in shares of KLA by 114,444.5% in the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company's stock worth $215,809,000 after purchasing an additional 342,189 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of KLA by 10,766.7% during the 3rd quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company's stock valued at $176,720,000 after purchasing an additional 226,100 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of KLA during the 4th quarter valued at $142,221,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

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KLA Trading Down 0.3 %

NASDAQ:KLAC traded down $1.89 during midday trading on Tuesday, hitting $677.91. 196,221 shares of the company traded hands, compared to its average volume of 1,090,681. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm's fifty day moving average is $726.28 and its 200-day moving average is $702.34. The firm has a market capitalization of $90.09 billion, a P/E ratio of 28.47, a P/E/G ratio of 1.57 and a beta of 1.30. KLA Co. has a 12-month low of $609.40 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last announced 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 net margin of 29.58% and a return on equity of 108.60%. On average, sell-side analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 1.00%. KLA's dividend payout ratio (DPR) is presently 28.60%.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on KLA from $795.00 to $870.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Morgan Stanley raised shares of KLA from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $748.00 to $870.00 in a report on Monday. Needham & Company LLC boosted their target price on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Cantor Fitzgerald lifted their price target on shares of KLA from $800.00 to $875.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $832.17.

Insider Activity

In related news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were 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 of the company's stock, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.12% of the company's stock.

KLA Company 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.