DnB Asset Management AS Sells 1,670 Shares of KLA Co. (NASDAQ:KLAC)

DnB Asset Management AS trimmed its stake in KLA Co. (NASDAQ:KLAC) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,981 shares of the semiconductor company’s stock after selling 1,670 shares during the quarter. DnB Asset Management AS’s holdings in KLA were worth $27,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in KLA during the third quarter worth $29,000. Tortoise Investment Management LLC raised its holdings in shares of KLA by 300.0% in the 4th 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 period. TCTC Holdings LLC acquired a new stake in KLA in the 4th quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC bought a new position in KLA during the fourth quarter worth about $32,000. Finally, Fairfield Financial Advisors LTD grew its holdings 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. Institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In other news, CFO Bren D. Higgins sold 7,008 shares of the business’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 in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by company insiders.

KLA Stock Down 3.8 %

NASDAQ KLAC opened at $673.60 on Friday. The business has a fifty day moving average price of $727.83 and a two-hundred day moving average price of $703.11. The stock has a market capitalization of $89.51 billion, a PE ratio of 28.33, a PEG ratio of 1.57 and a beta of 1.30. KLA Co. has a fifty-two week low of $609.40 and a fifty-two week 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) last issued its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping 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%. Equities analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s payout ratio is 28.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KLAC. Jefferies Financial Group reaffirmed a “hold” rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a research report on Friday. Susquehanna raised their target price on shares of KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC increased their price target on shares of KLA from $800.00 to $830.00 and gave the company a “buy” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Morgan Stanley increased their target price on KLA from $703.00 to $748.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, KLA has a consensus rating of “Moderate Buy” and an average target price of $825.39.

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.