State of Tennessee Department of Treasury Sells 15,387 Shares of KLA Co. (NASDAQ:KLAC)

State of Tennessee Department of Treasury cut its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,492 shares of the semiconductor company's stock after selling 15,387 shares during the period. State of Tennessee Department of Treasury's holdings in KLA were worth $22,364,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KLAC. Needham & Company LLC upped their price objective on shares of KLA from $800.00 to $830.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Stifel Nicolaus cut their price target on shares of KLA from $825.00 to $750.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Susquehanna lifted their price objective on shares of KLA from $620.00 to $655.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Citigroup dropped their price objective on KLA from $910.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Oppenheimer decreased their target price on KLA from $850.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $804.67.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.12% of the company's stock.

KLA Price Performance

Shares of KLAC opened at $636.36 on Wednesday. The business has a 50-day moving average of $689.99 and a 200-day moving average of $688.21. KLA Co. has a 1 year low of $551.33 and a 1 year high of $896.32. The company has a market capitalization of $84.56 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) 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 anticipate that KLA Co. will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, February 24th. KLA's dividend payout ratio (DPR) is presently 28.60%.

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.

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