Lockerman Financial Group Inc. Invests $254,000 in KLA Co. (NASDAQ:KLAC)

Lockerman Financial Group Inc. acquired a new position in shares of KLA Co. (NASDAQ:KLAC) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 364 shares of the semiconductor company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in shares of KLA in the fourth quarter valued at $1,048,728,000. Alkeon Capital Management LLC increased its holdings in shares of KLA by 52.8% in the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after buying an additional 400,000 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of KLA by 12.2% in the fourth quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after buying an additional 386,810 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of KLA by 43.4% in the fourth quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after buying an additional 301,848 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of KLA by 6,309.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock valued at $145,410,000 after buying an additional 246,244 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ahmad A. Khan sold 7,833 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total value of $5,953,080.00. Following the sale, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ahmad A. Khan sold 7,833 shares of KLA stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $760.00, for a total transaction of $5,953,080.00. Following the sale, the insider now directly owns 32,105 shares of the company’s stock, valued at $24,399,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the sale, the chief financial officer now directly owns 31,356 shares in the company, valued at $24,726,714.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,861 shares of company stock valued at $16,795,913. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KLAC. Deutsche Bank Aktiengesellschaft began coverage on KLA in a report on Thursday, April 11th. They issued a “buy” rating and a $800.00 price target on the stock. UBS Group boosted their target price on shares of KLA from $605.00 to $760.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Barclays raised shares of KLA from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $630.00 to $765.00 in a research note on Wednesday, June 5th. Wells Fargo & Company boosted their target price on shares of KLA from $860.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Cantor Fitzgerald boosted their target price on shares of KLA from $625.00 to $800.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $747.40.

KLA Stock Up 2.8 %

KLA stock traded up $22.97 during mid-day trading on Friday, hitting $837.84. 92,271 shares of the company’s stock were exchanged, compared to its average volume of 902,745. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.90. The stock has a market cap of $112.81 billion, a P/E ratio of 42.69, a P/E/G ratio of 3.89 and a beta of 1.28. KLA Co. has a 1-year low of $440.15 and a 1-year high of $876.55. The stock has a 50 day moving average of $755.39 and a two-hundred day moving average of $678.53.

KLA (NASDAQ:KLAC) last posted its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.49 earnings per share. As a group, analysts anticipate that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio is currently 30.38%.

KLA 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.