KLA Co. (NASDAQ:KLAC) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp reduced its stake in KLA Co. (NASDAQ:KLAC) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,547 shares of the semiconductor company’s stock after selling 115 shares during the period. KLA accounts for approximately 1.1% of Progressive Investment Management Corp’s holdings, making the stock its 29th biggest position. Progressive Investment Management Corp’s holdings in KLA were worth $4,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in KLA in the third quarter worth approximately $29,000. Tortoise Investment Management LLC raised its stake in shares of KLA by 300.0% in the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after buying an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of KLA in the fourth quarter valued at $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in KLA during the fourth quarter worth about $32,000. Finally, Fairfield Financial Advisors LTD raised its position in KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 40 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Stock Performance

Shares of KLAC opened at $673.60 on Friday. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company has a market capitalization of $89.51 billion, a PE ratio of 28.33, a PEG ratio of 1.57 and a beta of 1.30. The company’s 50 day moving average price is $727.83 and its 200 day moving average price is $703.11.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported $8.20 earnings per share 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%. Research analysts expect that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 annualized dividend and a dividend yield of 1.01%. KLA’s payout ratio is 28.60%.

Analysts Set New Price Targets

KLAC has been the subject of several research reports. UBS Group raised their price objective on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Needham & Company LLC lifted their price target on shares of KLA from $800.00 to $830.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a report on Friday. The Goldman Sachs Group raised their price objective on KLA from $759.00 to $864.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Susquehanna boosted their target price on KLA from $620.00 to $655.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $825.39.

Insider Buying and Selling

In other news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the transaction, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This represents a 19.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

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.