Franklin Resources Inc. Trims Position in KLA Co. (NASDAQ:KLAC)

Franklin Resources Inc. reduced its position in shares of KLA Co. (NASDAQ:KLAC) by 37.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 569,251 shares of the semiconductor company’s stock after selling 342,115 shares during the period. Franklin Resources Inc. owned 0.43% of KLA worth $358,696,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of KLA during the 3rd quarter valued at approximately $29,000. Tortoise Investment Management LLC increased 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 acquiring an additional 36 shares during the last quarter. TCTC Holdings LLC purchased a new stake in KLA in the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA in the 4th quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD grew its holdings in shares of KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 40 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Up 0.9 %

Shares of KLA stock opened at $679.80 on Tuesday. 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 $609.40 and a 52-week high of $896.32. The company has a market capitalization of $90.34 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.57 and a beta of 1.30. The company has a 50 day moving average of $726.28 and a 200 day moving average of $702.34.

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

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s dividend payout ratio (DPR) is presently 28.60%.

Analyst Ratings Changes

Several analysts recently issued reports on KLAC shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of KLA from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays boosted their price target on shares of KLA from $700.00 to $760.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted 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. Finally, Morgan Stanley upgraded KLA from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $748.00 to $870.00 in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $832.17.

Insider Buying and Selling

In other KLA 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 of the company’s stock, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is owned by company 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.