Desjardins Global Asset Management Inc. Reduces Position in KLA Co. (NASDAQ:KLAC)

Desjardins Global Asset Management Inc. cut its stake in shares of KLA Co. (NASDAQ:KLAC) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,848 shares of the semiconductor company’s stock after selling 1,727 shares during the quarter. KLA comprises approximately 0.5% of Desjardins Global Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Desjardins Global Asset Management Inc.’s holdings in KLA were worth $4,562,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State of Michigan Retirement System lifted its position in KLA by 5.9% during the fourth quarter. State of Michigan Retirement System now owns 39,668 shares of the semiconductor company’s stock valued at $23,059,000 after purchasing an additional 2,200 shares during the period. Chico Wealth RIA raised its position in shares of KLA by 287.0% in the fourth quarter. Chico Wealth RIA now owns 3,870 shares of the semiconductor company’s stock worth $2,250,000 after acquiring an additional 2,870 shares during the period. Crestwood Advisors Group LLC raised its position in shares of KLA by 48.7% in the fourth quarter. Crestwood Advisors Group LLC now owns 43,484 shares of the semiconductor company’s stock worth $25,277,000 after acquiring an additional 14,251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of KLA during the fourth quarter worth about $4,754,000. Finally, Cerity Partners LLC increased its stake in shares of KLA by 58.3% during the fourth quarter. Cerity Partners LLC now owns 64,156 shares of the semiconductor company’s stock worth $37,294,000 after purchasing an additional 23,635 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Up 2.6 %

KLAC traded up $17.45 during midday trading on Tuesday, hitting $695.94. 496,359 shares of the company’s stock traded hands, compared to its average volume of 952,557. KLA Co. has a one year low of $355.88 and a one year high of $729.15. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.91 and a quick ratio of 1.25. The stock’s fifty day simple moving average is $681.28 and its 200-day simple moving average is $589.12. The company has a market cap of $94.11 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 3.32 and a beta of 1.34.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $6.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.25. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. KLA had a net margin of 27.98% and a return on equity of 107.56%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.38 EPS. As a group, equities analysts anticipate that KLA Co. will post 22.65 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $1.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.83%. KLA’s dividend payout ratio (DPR) is presently 29.46%.

Analyst Ratings Changes

Several analysts recently issued reports on KLAC shares. Berenberg Bank upped their price objective on shares of KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus increased their target price on shares of KLA from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Raymond James raised their price objective on shares of KLA from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $675.00 target price on shares of KLA in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus target price of $688.42.

Insider Activity

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

About KLA

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.