Cumberland Partners Ltd Has $1.37 Million Holdings in KLA Co. (NASDAQ:KLAC)

Cumberland Partners Ltd lifted its stake in KLA Co. (NASDAQ:KLAC) by 46.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,381 shares of the semiconductor company’s stock after buying an additional 750 shares during the quarter. Cumberland Partners Ltd’s holdings in KLA were worth $1,368,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KLAC. GAMMA Investing LLC acquired a new stake in KLA during the 4th quarter valued at $435,000. Linden Thomas Advisory Services LLC increased its holdings in KLA by 16.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 4,812 shares of the semiconductor company’s stock valued at $2,797,000 after purchasing an additional 676 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in KLA by 5.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 754 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 42 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in KLA by 16.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 28,433 shares of the semiconductor company’s stock valued at $16,528,000 after purchasing an additional 4,103 shares in the last quarter. Finally, RWA Wealth Partners LLC increased its holdings in KLA by 80.6% during the 4th quarter. RWA Wealth Partners LLC now owns 19,544 shares of the semiconductor company’s stock valued at $11,361,000 after purchasing an additional 8,721 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Up 0.9 %

Shares of NASDAQ:KLAC traded up $5.98 during midday trading on Wednesday, hitting $654.19. The company had a trading volume of 420,007 shares, compared to its average volume of 951,955. The stock has a market cap of $88.47 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.16 and a beta of 1.34. KLA Co. has a 12 month low of $355.88 and a 12 month high of $729.15. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 1.69. The firm has a fifty day simple moving average of $684.05 and a 200 day simple moving average of $597.19.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $6.16 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 return on equity of 107.56% and a net margin of 27.98%. The firm’s revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $7.38 EPS. On average, analysts predict that KLA Co. will post 22.61 EPS for the current year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Thursday, February 15th. KLA’s dividend payout ratio is currently 29.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on KLA in a report on Thursday, April 11th. They set a “buy” rating and a $800.00 price target for the company. TD Cowen increased their price objective on KLA from $525.00 to $650.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Stifel Nicolaus increased their price objective on KLA from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their price objective on KLA from $550.00 to $625.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Wells Fargo & Company increased their price objective on KLA from $760.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus target price of $696.58.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,018 shares of KLA stock in a transaction dated 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 sale, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares in the company, valued at $22,825,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Oreste Donzella sold 3,257 shares of the company’s 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 completion of the sale, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

KLA Company Profile

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.