Two Creeks Capital Management LP Purchases 33,881 Shares of KLA Co. (NASDAQ:KLAC)

Two Creeks Capital Management LP boosted its position in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,113 shares of the semiconductor company's stock after acquiring an additional 33,881 shares during the quarter. KLA accounts for approximately 3.6% of Two Creeks Capital Management LP's investment portfolio, making the stock its 15th biggest holding. Two Creeks Capital Management LP owned approximately 0.07% of KLA worth $59,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KLAC. Tortoise Investment Management LLC grew its position in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC acquired a new position in KLA during the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA during the 4th quarter worth $32,000. Fairfield Financial Advisors LTD lifted its holdings in shares of KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in KLA in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 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. UBS Group raised their price target on shares of KLA from $665.00 to $780.00 and gave the company a "neutral" rating in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Oppenheimer cut their target price on KLA from $850.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $804.67.

Insider Activity at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the business's 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 $20,867,606.76. The trade was a 19.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is owned by insiders.

KLA Stock Performance

Shares of KLA stock opened at $636.36 on Wednesday. The firm has a market capitalization of $84.56 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.57 and a beta of 1.37. The business has a 50-day simple moving average of $689.99 and a 200 day simple moving average of $688.21. KLA Co. has a one year low of $551.33 and a one year high of $896.32. 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 announced 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 net margin of 29.58% and a return on equity of 108.60%. On average, research analysts anticipate that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders 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 dividend yield of 1.07%. KLA's dividend payout ratio is currently 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.

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