Simmons Bank Buys 1,348 Shares of KLA Co. (NASDAQ:KLAC)

Simmons Bank grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,905 shares of the semiconductor company’s stock after buying an additional 1,348 shares during the period. Simmons Bank’s holdings in KLA were worth $3,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in KLA by 29.3% in the fourth quarter. AdvisorNet Financial Inc now owns 75 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 17 shares during the last quarter. West Paces Advisors Inc. grew its holdings in shares of KLA by 8.8% in the fourth quarter. West Paces Advisors Inc. now owns 210 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 17 shares during the period. Journey Advisory Group LLC increased its position in KLA by 4.4% during the third quarter. Journey Advisory Group LLC now owns 502 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 21 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in KLA by 4.3% in the fourth quarter. Drive Wealth Management LLC now owns 507 shares of the semiconductor company’s stock valued at $295,000 after acquiring an additional 21 shares during the period. Finally, MWA Asset Management boosted its position in KLA by 3.2% in the fourth quarter. MWA Asset Management now owns 683 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 21 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KLAC shares. UBS Group raised their price objective on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Citigroup boosted their price objective on shares of KLA from $725.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft assumed coverage on KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Friday, April 26th. Finally, Berenberg Bank lifted their price objective on KLA from $670.00 to $690.00 and gave the company a “buy” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $722.26.

KLA Price Performance

Shares of KLAC traded down $4.00 during mid-day trading on Tuesday, hitting $714.38. 782,703 shares of the stock were exchanged, compared to its average volume of 955,340. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The company has a market cap of $96.18 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.97 and a beta of 1.33. KLA Co. has a 52-week low of $374.49 and a 52-week high of $729.15. The firm has a 50-day moving average of $689.45 and a two-hundred day moving average of $612.12.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.32. KLA had a net margin of 27.19% and a return on equity of 102.37%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $5.49 earnings per share. KLA’s revenue was down 3.0% on a year-over-year basis. On average, equities analysts predict that KLA Co. will post 23.24 earnings per share for the current year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $1.45 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.81%. KLA’s dividend payout ratio is currently 30.38%.

Insider Buying and Selling

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 stock was sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the sale, the chief financial officer now directly owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Bren D. Higgins sold 7,018 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the sale, the chief financial officer now owns 32,375 shares in the company, valued at approximately $22,825,670. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction 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 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.