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

DnB Asset Management AS cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KLAC. Norges Bank acquired a new position in KLA in the fourth quarter valued at about $1,175,756,000. Parnassus Investments LLC boosted its holdings in shares of KLA by 381.3% in the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock worth $462,085,000 after acquiring an additional 580,967 shares in the last quarter. Proficio Capital Partners LLC grew its position in KLA by 114,444.5% during the 4th quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock worth $215,809,000 after acquiring an additional 342,189 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in KLA by 25.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company’s stock valued at $916,926,000 after purchasing an additional 292,907 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in KLA by 10,766.7% in the 3rd quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock valued at $176,720,000 after purchasing an additional 226,100 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

Shares of KLA stock opened at $673.60 on Friday. The company 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. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock’s fifty day simple moving average is $727.83 and its 200 day simple moving average is $703.11. KLA Co. has a 12 month low of $609.40 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last announced 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 net margin of 29.58% and a return on equity of 108.60%. On average, research analysts predict that KLA Co. will post 31.59 EPS for the current year.

KLA Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on KLAC shares. Jefferies Financial Group restated a “hold” rating and set a $725.00 target price (down previously from $875.00) on shares of KLA in a report on Friday. UBS Group increased their price objective on shares of KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Cantor Fitzgerald upped their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays raised their price target on shares of KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their price objective on KLA from $759.00 to $864.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and an average price target of $825.39.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 7,008 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.12% of the company’s stock.

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.