Outlook Wealth Advisors LLC Grows Stake in KLA Co. (NASDAQ:KLAC)

Outlook Wealth Advisors LLC increased its stake in KLA Co. (NASDAQ:KLAC) by 21.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 543 shares of the semiconductor company’s stock after purchasing an additional 96 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in KLA were worth $379,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of KLA during the fourth quarter valued at approximately $1,048,728,000. Alkeon Capital Management LLC boosted its holdings in KLA by 52.8% in the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after purchasing an additional 400,000 shares during the last quarter. Wellington Management Group LLP grew its stake in KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares in the last quarter. TD Asset Management Inc raised its position in shares of KLA by 43.4% in the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of KLA by 6,309.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock valued at $145,410,000 after buying an additional 246,244 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 7,018 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the sale, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other KLA news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the completion of the sale, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

KLA Price Performance

KLAC stock traded up $33.31 during trading hours on Friday, hitting $706.26. 1,193,523 shares of the stock traded hands, compared to its average volume of 821,545. KLA Co. has a one year low of $369.00 and a one year high of $729.15. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. The company has a market cap of $95.51 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.36 and a beta of 1.34. The stock has a 50-day simple moving average of $685.41 and a 200 day simple moving average of $599.79.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. KLA had a return on equity of 103.31% and a net margin of 27.19%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $5.49 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts forecast that KLA Co. will post 22.61 earnings per share for the current year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, February 15th. KLA’s payout ratio is 30.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 price objective for the company. Citigroup boosted their price target on shares of KLA from $700.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna reaffirmed a “neutral” rating and issued a $675.00 price objective on shares of KLA in a report on Monday, April 1st. TD Cowen boosted their target price on shares of KLA from $650.00 to $700.00 and gave the company a “hold” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on shares of KLA from $692.00 to $698.00 and gave the stock an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, KLA has an average rating of “Moderate Buy” and an average price target of $720.42.

KLA Profile

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 three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.