KLA Co. (NASDAQ:KLAC) Shares Acquired by Jensen Investment Management Inc.

Jensen Investment Management Inc. boosted its holdings in shares of KLA Co. (NASDAQ:KLAC) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 571,035 shares of the semiconductor company’s stock after buying an additional 22,045 shares during the period. KLA makes up about 3.9% of Jensen Investment Management Inc.’s portfolio, making the stock its 9th largest position. Jensen Investment Management Inc. owned approximately 0.42% of KLA worth $470,824,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in shares of KLA during the second quarter valued at approximately $30,000. Cedar Wealth Management LLC boosted its holdings in KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in KLA during the 4th quarter worth $26,000. DSM Capital Partners LLC bought a new stake in shares of KLA in the 4th quarter worth $28,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of KLA in the second quarter valued at about $44,000. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KLAC. Citigroup reduced their price objective on shares of KLA from $990.00 to $960.00 and set a “buy” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Argus lifted their price target on KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $950.00 price objective on shares of KLA in a research note on Thursday, July 25th. Finally, Jefferies Financial Group started coverage on KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $805.29.

Insider Buying and Selling

In other news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the sale, the executive vice president now directly owns 14,211 shares of the company’s stock, valued at approximately $11,644,493.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at $2,749,473.04. The disclosure for this sale can be found here. Insiders sold a total of 20,917 shares of company stock worth $14,568,247 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

KLA Stock Performance

Shares of NASDAQ KLAC traded down $7.39 during mid-day trading on Friday, hitting $720.67. The company had a trading volume of 66,903 shares, compared to its average volume of 924,656. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a market capitalization of $97.03 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.63 and a beta of 1.27. The stock’s 50-day moving average price is $798.97 and its 200-day moving average price is $750.30.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, beating the consensus estimate of $6.15 by $0.45. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.40 earnings per share. On average, sell-side analysts forecast that KLA Co. will post 29.09 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.80%. KLA’s dividend payout ratio (DPR) is presently 30.38%.

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.