KLA Co. (NASDAQ:KLAC) Shares Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP increased its stake in shares of KLA Co. (NASDAQ:KLAC) by 121.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,899 shares of the semiconductor company’s stock after acquiring an additional 2,142 shares during the quarter. Brevan Howard Capital Management LP’s holdings in KLA were worth $2,457,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Tortoise Investment Management LLC grew its stake in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after buying an additional 36 shares during the last quarter. TCTC Holdings LLC acquired a new stake in shares of KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA in the 4th quarter valued at $32,000. Fairfield Financial Advisors LTD raised its position in KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 40 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in KLA during the 4th quarter worth $43,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

KLAC has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating on shares of KLA in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $800.00 price objective on shares of KLA in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $830.00 target price on shares of KLA in a report on Thursday, May 1st. Morgan Stanley decreased their price target on KLA from $870.00 to $868.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, TD Securities boosted their price objective on shares of KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $802.74.

Insider Transactions at KLA

In related 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 sale, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

KLA Stock Down 1.8 %

KLAC opened at $681.00 on Wednesday. The company has a market cap of $90.50 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.57 and a beta of 1.40. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. KLA Co. has a one year low of $551.33 and a one year high of $896.32. The business’s fifty day moving average is $678.14 and its two-hundred day moving average is $683.58.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping analysts’ consensus estimates of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a return on equity of 108.60% and a net margin of 29.58%. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.26 earnings per share. Analysts anticipate that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 1.00%. KLA’s dividend payout ratio is currently 24.72%.

KLA announced that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.