Delta Investment Management LLC Buys New Stake in KLA Co. (NASDAQ:KLAC)

Delta Investment Management LLC bought a new stake in KLA Co. (NASDAQ:KLAC) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 425 shares of the semiconductor company’s stock, valued at approximately $247,000.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in KLA during the fourth quarter worth $25,000. Operose Advisors LLC acquired a new position in KLA during the third quarter worth $26,000. OFI Invest Asset Management acquired a new position in KLA during the third quarter worth $26,000. AdvisorNet Financial Inc raised its position in KLA by 29.3% during the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 17 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in KLA during the fourth quarter worth $51,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Stock Up 4.9 %

Shares of KLAC traded up $33.31 during mid-day trading on Friday, hitting $706.26. 1,193,523 shares of the company’s stock were exchanged, compared to its average volume of 821,545. The company has a market cap of $95.51 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 3.36 and a beta of 1.34. KLA Co. has a fifty-two week low of $369.00 and a fifty-two week high of $729.15. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.25 and a current ratio of 1.91. The stock’s 50-day moving average is $685.41 and its 200-day moving average is $599.79.

KLA (NASDAQ:KLAC) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 103.31%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.49 earnings per share. On average, sell-side analysts anticipate that KLA Co. will post 22.61 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $1.45 dividend. The ex-dividend date was Thursday, February 15th. This represents a $5.80 annualized dividend and a yield of 0.82%. KLA’s dividend payout ratio (DPR) is 30.38%.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research analyst reports. Susquehanna restated a “neutral” rating and set a $675.00 price objective on shares of KLA in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of KLA from $565.00 to $725.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Berenberg Bank upped their target price on shares of KLA from $670.00 to $690.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Evercore ISI assumed coverage on shares of KLA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.42.

Insider Activity at KLA

In other KLA news, EVP Oreste Donzella sold 3,257 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were 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 in the company, valued at $11,809,017.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Bren D. Higgins sold 7,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the transaction, the chief financial officer now directly owns 32,375 shares in the company, valued at $22,825,670. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the firm’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 transaction of $2,272,897.45. Following the transaction, the executive vice president now owns 16,922 shares in the company, valued at $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate 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.