The Manufacturers Life Insurance Company Has $264.17 Million Position in KLA Co. (NASDAQ:KLAC)

The Manufacturers Life Insurance Company reduced its holdings in KLA Co. (NASDAQ:KLACGet Rating) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 721,639 shares of the semiconductor company’s stock after selling 100,125 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.48% of KLA worth $264,172,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in KLAC. Mutual of America Capital Management LLC grew its position in KLA by 0.4% during the first quarter. Mutual of America Capital Management LLC now owns 21,621 shares of the semiconductor company’s stock worth $7,915,000 after buying an additional 90 shares in the last quarter. Natixis Advisors L.P. grew its position in KLA by 11.5% during the first quarter. Natixis Advisors L.P. now owns 47,234 shares of the semiconductor company’s stock worth $17,290,000 after buying an additional 4,871 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in KLA by 3.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,834 shares of the semiconductor company’s stock worth $4,698,000 after buying an additional 432 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in KLA by 66.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 155 shares of the semiconductor company’s stock worth $57,000 after buying an additional 62 shares in the last quarter. Finally, Regal Investment Advisors LLC grew its position in KLA by 10.9% during the first quarter. Regal Investment Advisors LLC now owns 774 shares of the semiconductor company’s stock worth $283,000 after buying an additional 76 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America cut their price target on shares of KLA from $430.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Evercore ISI set a $425.00 price target on shares of KLA in a research note on Monday, June 20th. UBS Group cut their price target on shares of KLA from $360.00 to $345.00 and set a “neutral” rating for the company in a research note on Tuesday, June 28th. StockNews.com cut shares of KLA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Finally, Morgan Stanley cut their price target on shares of KLA from $381.00 to $358.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $424.16.

KLA Stock Performance

KLAC stock opened at $346.61 on Thursday. The company has a debt-to-equity ratio of 4.76, a current ratio of 2.50 and a quick ratio of 1.75. The company has a 50 day moving average price of $355.91 and a 200 day moving average price of $344.07. KLA Co. has a fifty-two week low of $282.83 and a fifty-two week high of $457.12. The stock has a market capitalization of $49.15 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35.

KLA (NASDAQ:KLACGet Rating) last released its earnings results on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business earned $4.43 EPS. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. Analysts forecast that KLA Co. will post 24.65 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, August 12th. This is a positive change from KLA’s previous quarterly dividend of $1.05. KLA’s payout ratio is currently 23.74%.

KLA declared that its Board of Directors has authorized a share buyback program on Thursday, June 16th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other KLA news, insider Ahmad A. Khan sold 7,736 shares of KLA stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the completion of the sale, the insider now owns 77,927 shares of the company’s stock, valued at approximately $28,073,981.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Ahmad A. Khan sold 7,736 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total value of $2,786,971.36. Following the completion of the transaction, the insider now owns 77,927 shares of the company’s stock, valued at approximately $28,073,981.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Virendra A. Kirloskar sold 325 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $390.85, for a total transaction of $127,026.25. Following the completion of the transaction, the chief accounting officer now directly owns 5,291 shares of the company’s stock, valued at $2,067,987.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,761 shares of company stock valued at $5,468,670. Company insiders own 0.14% of the company’s stock.

KLA Company Profile

(Get Rating)

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

See Also

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Co. (NASDAQ:KLACGet Rating).

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

Receive News & Ratings for KLA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLA and related companies with MarketBeat.com's FREE daily email newsletter.