Sompo Asset Management Co. Ltd. Has $888,000 Stock Position in KLA Co. (NASDAQ:KLAC)

Sompo Asset Management Co. Ltd. decreased its holdings in KLA Co. (NASDAQ:KLAC) by 13.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,410 shares of the semiconductor company’s stock after selling 220 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in KLA were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in KLA during the 4th quarter valued at $1,175,756,000. Parnassus Investments LLC grew its stake in KLA by 381.3% in the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock valued at $462,085,000 after buying an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC lifted its position in KLA by 114,444.5% during the fourth quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock worth $215,809,000 after acquiring an additional 342,189 shares during the last quarter. Capital Research Global Investors acquired a new stake in KLA during the 4th quarter worth approximately $187,212,000. Finally, Pictet Asset Management Holding SA increased its position in KLA by 25.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company’s stock worth $916,926,000 after buying an additional 292,907 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.12% of the stock is owned by company insiders.

KLA Stock Performance

Shares of KLAC stock opened at $636.36 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $689.99 and a two-hundred day simple moving average of $688.21. KLA Co. has a 12 month low of $551.33 and a 12 month high of $896.32. The firm has a market capitalization of $84.56 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. Analysts forecast that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, February 24th. KLA’s payout ratio is 28.60%.

Wall Street Analysts Forecast Growth

KLAC has been the topic of several research reports. Cantor Fitzgerald upped their price target on shares of KLA from $800.00 to $875.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley upgraded shares of KLA from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $748.00 to $870.00 in a research report on Monday, March 31st. Oppenheimer lowered their price objective on KLA from $850.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. UBS Group raised their price target on KLA from $665.00 to $780.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, Barclays decreased their target price on shares of KLA from $760.00 to $590.00 and set an “equal weight” rating on the stock in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $804.67.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.