Allspring Global Investments Holdings LLC Has $58.15 Million Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Allspring Global Investments Holdings LLC trimmed its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 11.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,201 shares of the semiconductor company's stock after selling 11,457 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of KLA worth $58,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KLAC. Norges Bank acquired a new stake in shares of KLA during the fourth quarter valued at about $1,175,756,000. GAMMA Investing LLC lifted its stake in shares of KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after acquiring an additional 1,672,589 shares during the period. Parnassus Investments LLC lifted its stake in shares of KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after acquiring an additional 580,967 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of KLA by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock worth $750,638,000 after acquiring an additional 300,015 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of KLA in the fourth quarter worth approximately $187,212,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on KLAC. Cowen reaffirmed a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KLA in a research note on Tuesday, June 24th. TD Securities lifted their price objective on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price objective on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $815.39.

KLA Trading Down 1.4%

NASDAQ KLAC opened at $889.87 on Monday. The company has a market cap of $117.68 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.69 and a beta of 1.40. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $914.83. The business has a 50 day moving average price of $778.92 and a 200-day moving average price of $725.20. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47.

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

KLA Increases Dividend

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

KLA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now owns 78,740 shares of the company's stock, valued at $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. 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.

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