AE Wealth Management LLC Purchases 530 Shares of KLA Corporation (NASDAQ:KLAC)

Key Points

• AE Wealth Management LLC increased its holdings in KLA Corporation by 31.9% during the 1st quarter, owning 2,192 shares valued at approximately $1.49 million.
• KLA Corporation recently increased its quarterly dividend to $1.90 per share, up from $1.70, reflecting a 0.84% yield for investors.
• Analyst price targets for KLA Corporation vary, with Oppenheimer raising its target to $950, while JPMorgan and Deutsche Bank have lower targets of $900 and $790, respectively.

AE Wealth Management LLC grew its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 31.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,192 shares of the semiconductor company's stock after purchasing an additional 530 shares during the period. AE Wealth Management LLC's holdings in KLA were worth $1,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KLAC. Alpine Bank Wealth Management bought a new position in shares of KLA in the 1st quarter valued at approximately $35,000. Olde Wealth Management LLC acquired a new position in shares of KLA during the first quarter valued at $36,000. Hazlett Burt & Watson Inc. bought a new stake in KLA in the first quarter valued at about $45,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of KLA by 527.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 58 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of KLA by 270.0% during the first quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock worth $50,000 after buying an additional 54 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 have recently issued reports on KLAC. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Cowen reaffirmed a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $920.00 target price (up from $870.00) on shares of KLA in a report on Tuesday, July 8th. Citigroup reaffirmed a "buy" rating and issued a $1,035.00 price target (up from $835.00) on shares of KLA in a report on Monday, July 7th. Finally, TD Cowen raised their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $858.19.

KLA Price Performance

KLAC stock traded down $28.65 during mid-day trading on Thursday, hitting $896.35. The company had a trading volume of 833,890 shares, compared to its average volume of 1,159,333. The company has a market capitalization of $118.53 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 1.71 and a beta of 1.42. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $945.87. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The company has a 50-day moving average price of $870.25 and a 200 day moving average price of $766.22.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm posted $5.26 earnings per share. KLA's revenue for the quarter was up 35.5% compared to the same quarter last year. On average, research analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a yield of 0.85%. KLA's payout ratio is currently 27.63%.

KLA declared that its board has authorized a stock buyback plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total value of $34,768.50. Following the completion of the sale, the chief accounting officer owned 2,616 shares of the company's stock, valued at $2,332,164. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer directly owned 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,860 shares of company stock worth $8,196,798. Company insiders own 0.12% of the company's stock.

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.