Sagespring Wealth Partners LLC Invests $518,000 in KLA Co. (NASDAQ:KLAC)

Sagespring Wealth Partners LLC bought a new position in KLA Co. (NASDAQ:KLAC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 822 shares of the semiconductor company's stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also made changes to their positions in KLAC. M&T Bank Corp raised its position in KLA by 0.5% during the 3rd quarter. M&T Bank Corp now owns 17,724 shares of the semiconductor company's stock valued at $13,726,000 after purchasing an additional 83 shares in the last quarter. Passumpsic Savings Bank increased its stake in shares of KLA by 6.7% during the third quarter. Passumpsic Savings Bank now owns 1,267 shares of the semiconductor company's stock valued at $981,000 after buying an additional 80 shares during the period. Virtu Financial LLC bought a new stake in shares of KLA in the third quarter valued at about $994,000. Anchor Investment Management LLC grew its holdings in KLA by 43.7% during the 3rd quarter. Anchor Investment Management LLC now owns 125 shares of the semiconductor company's stock worth $97,000 after acquiring an additional 38 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in KLA during the 3rd quarter worth about $310,000. 86.65% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares of the company's stock, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KLAC shares. Cantor Fitzgerald upped their price target on shares of KLA from $800.00 to $875.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Wells Fargo & Company increased their target price on KLA from $795.00 to $870.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Needham & Company LLC boosted their price target on KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Jefferies Financial Group reaffirmed a "hold" rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Finally, Stifel Nicolaus reduced their target price on shares of KLA from $825.00 to $750.00 and set a "buy" rating for the company in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $814.11.

KLA Stock Performance

Shares of NASDAQ:KLAC traded down $7.76 on Friday, hitting $634.43. 1,224,102 shares of the company were exchanged, compared to its average volume of 1,057,816. 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 stock's 50 day moving average price is $697.62 and its 200 day moving average price is $691.75. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32. The firm has a market capitalization of $84.31 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

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, 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%. Sell-side analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, February 24th. KLA's payout ratio is 28.60%.

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.