KLA Co. (NASDAQ:KLAC) is Jensen Investment Management Inc.’s 9th Largest Position

Jensen Investment Management Inc. increased its holdings in KLA Co. (NASDAQ:KLAC) by 4.0% during the second quarter, Holdings Channel.com reports. The firm owned 571,035 shares of the semiconductor company’s stock after acquiring an additional 22,045 shares during the quarter. KLA accounts for 3.9% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 9th largest holding. Jensen Investment Management Inc.’s holdings in KLA were worth $470,824,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in shares of KLA in the fourth quarter valued at about $26,000. Cedar Wealth Management LLC lifted its position in shares of KLA by 77.3% in the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 17 shares during the period. DSM Capital Partners LLC bought a new stake in shares of KLA during the 4th quarter valued at about $28,000. Family Firm Inc. bought a new position in KLA in the second quarter worth about $30,000. Finally, Jones Financial Companies Lllp lifted its holdings in KLA by 2,033.3% in the fourth quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after buying an additional 61 shares during the period. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KLAC. Barclays raised their target price on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen increased their price target on shares of KLA from $700.00 to $760.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Jefferies Financial Group began coverage on shares of KLA in a research note on Monday, May 13th. They set a “buy” rating and a $820.00 price objective on the stock. Finally, Raymond James raised their target price on shares of KLA from $750.00 to $875.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.29.

KLA Stock Performance

NASDAQ:KLAC traded down $7.39 during mid-day trading on Friday, reaching $720.67. The company’s stock had a trading volume of 66,903 shares, compared to its average volume of 924,656. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75. The stock has a market cap of $97.03 billion, a P/E ratio of 38.14, a PEG ratio of 1.63 and a beta of 1.27. The firm’s fifty day moving average price is $798.97 and its two-hundred day moving average price is $750.30. KLA Co. has a 12-month low of $440.15 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. KLA had a net margin of 28.15% and a return on equity of 103.50%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.40 earnings per share. On average, equities analysts forecast that KLA Co. will post 29.09 EPS for the current fiscal year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.80 annualized dividend and a dividend yield of 0.80%. KLA’s payout ratio is 30.38%.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now owns 105,329 shares in the company, valued at $74,257,998.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $649.84, for a total transaction of $536,118.00. Following the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $2,749,473.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The disclosure for this sale can be found here. Insiders have sold a total of 20,917 shares of company stock worth $14,568,247 in the last ninety days. Insiders own 0.12% of the company’s stock.

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.