Scotia Capital Inc. Reduces Stake in KLA Co. (NASDAQ:KLAC)

Scotia Capital Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 29.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,956 shares of the semiconductor company's stock after selling 6,574 shares during the period. Scotia Capital Inc.'s holdings in KLA were worth $10,055,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Tortoise Investment Management LLC grew its holdings in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in KLA in the 4th quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in KLA in the fourth quarter valued at $32,000. Fairfield Financial Advisors LTD increased its stake in KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 40 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in KLA in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Activity

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 shares were sold at an average price of $724.62, for a total value 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 approximately $20,867,606.76. This represents a 19.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.12% of the company's stock.

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KLA Stock Performance

KLAC stock traded down $31.50 on Wednesday, hitting $644.71. The company had a trading volume of 504,091 shares, compared to its average volume of 1,051,336. The stock's 50-day simple moving average is $702.07 and its 200 day simple moving average is $693.06. The stock has a market cap of $85.67 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a 12-month low of $551.33 and a 12-month high of $896.32. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

KLA (NASDAQ:KLAC - Get Free Report) last issued its 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 research analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $1.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $6.80 annualized dividend and a yield of 1.05%. KLA's dividend payout ratio (DPR) is currently 28.60%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group upped their price objective on KLA from $759.00 to $864.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of KLA from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Needham & Company LLC lifted their price target on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Citigroup reduced their target price on KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Stifel Nicolaus reduced their price objective on KLA from $825.00 to $750.00 and set a "buy" rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $814.11.

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.