12,651 KLA Corporation $KLAC Shares Purchased by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its KLA stake 37.8% in the third quarter, adding 12,651 shares to reach 46,140 shares valued at about $9.0 million.
• KLA’s latest quarterly results beat expectations: EPS was $1.22 versus $1.18 estimated, while revenue of $4.14 billion was up 28.9% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $220.35.
• KLA declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a yield of about 0.7% at the article’s stated share price.

Elite Wealth Management Inc. boosted its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 37.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,140 shares of the semiconductor company's stock after buying an additional 12,651 shares during the period. KLA makes up about 1.7% of Elite Wealth Management Inc.'s holdings, making the stock its 14th biggest position. Elite Wealth Management Inc.'s holdings in KLA were worth $8,994,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KLAC. Wellington Management Group LLP raised its stake in shares of KLA by 928.9% during the 2nd quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company's stock worth $4,471,832,000 after buying an additional 13,381,153 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in KLA in the second quarter valued at $2,522,430,000. National Pension Service grew its stake in shares of KLA by 899.4% during the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company's stock worth $1,096,673,000 after purchasing an additional 3,271,158 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of KLA by 239.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company's stock valued at $1,094,530,000 after purchasing an additional 3,959,927 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of KLA by 5.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company's stock valued at $997,000,000 after purchasing an additional 256,716 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on KLAC. Needham & Company LLC reissued a "buy" rating and set a $200.00 price objective (down from $270.00) on shares of KLA in a report on Thursday, October 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $230.00 price objective on shares of KLA in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their target price on KLA from $238.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, October 29th. Piper Sandler set a $425.00 target price on KLA in a report on Thursday, October 29th. Finally, Evercore restated an "outperform" rating and issued a $185.00 price target on shares of KLA in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $220.35.

KLA Price Performance

KLAC stock opened at $138.49 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86. The company's 50 day simple moving average is $174.83 and its 200-day simple moving average is $181.68. KLA Corporation has a 12 month low of $107.20 and a 12 month high of $307.37. The firm has a market capitalization of $180.45 billion, a PE ratio of 34.62, a P/E/G ratio of 1.13 and a beta of 1.49.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. KLA had a return on equity of 89.30% and a net margin of 36.25%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm posted $8.47 EPS. The company's quarterly revenue was up 28.9% compared to the same quarter last year. Equities analysts expect that KLA Corporation will post 5.73 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.92 annualized dividend and a yield of 0.7%. KLA's dividend payout ratio (DPR) is presently 23.00%.

KLA News Roundup

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

Insider Buying and Selling at KLA

In other news, CEO Richard P. Wallace sold 87,568 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total value of $17,421,653.60. Following the sale, the chief executive officer directly owned 778,944 shares in the company, valued at $154,970,908.80. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $208.13, for a total value of $12,401,634.18. Following the sale, the executive vice president directly owned 77,681 shares in the company, valued at approximately $16,167,746.53. The trade was a 43.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,173 shares of company stock valued at $42,201,914 in the last three months. 79.39% of the stock is currently owned by company insiders.

KLA Company Profile

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company's products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Corporation (NASDAQ:KLAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.