KLA Co. (NASDAQ:KLAC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of KLA Co. (NASDAQ:KLAC) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 306,342 shares of the semiconductor company’s stock after purchasing an additional 2,121 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.23% of KLA worth $193,032,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in KLAC. Legacy Investment Solutions LLC acquired a new position in shares of KLA during the 3rd quarter worth approximately $29,000. Tortoise Investment Management LLC boosted its stake in KLA by 300.0% during the fourth 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 purchased a new stake in KLA in the 4th quarter valued at $31,000. Kohmann Bosshard Financial Services LLC purchased a new stake in KLA in the 4th quarter valued at $32,000. Finally, Groupama Asset Managment raised its holdings in shares of KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,038 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of KLA from $759.00 to $864.00 and gave the company a “buy” rating in a report on Friday, January 31st. Susquehanna raised their price target on shares of KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley raised shares of KLA from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $748.00 to $870.00 in a research report on Monday, March 31st. Needham & Company LLC raised their target price on KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $832.17.

KLA Price Performance

KLA stock opened at $576.53 on Monday. The company’s 50 day moving average is $716.60 and its two-hundred day moving average is $699.57. The firm has a market cap of $76.61 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. KLA Co. has a 52-week low of $546.54 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. On average, research analysts expect that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors 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 dividend on an annualized basis and a dividend yield of 1.18%. KLA’s payout ratio is 28.60%.

Insider Activity at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total value of $5,078,136.96. Following the sale, the chief financial officer now directly owns 28,798 shares of the company’s stock, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.12% of the stock is owned by corporate insiders.

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.