Arkadios Wealth Advisors Raises Position in KLA Corporation (NASDAQ:KLAC)

Key Points

• Arkadios Wealth Advisors significantly increased its position in KLA Corporation by 240.8% in the first quarter, owning 2,011 shares valued at approximately $1.367 million.
• KLA Corporation's CFO and CEO sold shares recently, indicating a decrease in their positions by 3.54% and 12.06%, respectively, amidst insider transactions totaling over $8 million.
• Several analysts have raised their target prices for KLA shares, with Citigroup setting a new target of $1,060 and Oppenheimer increasing theirs to $950, reflecting positive sentiment toward the company's performance.

Arkadios Wealth Advisors raised its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 240.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,011 shares of the semiconductor company's stock after purchasing an additional 1,421 shares during the period. Arkadios Wealth Advisors' holdings in KLA were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Anchor Investment Management LLC boosted its stake in KLA by 12.0% in the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 15 shares during the period. IFC Advisors LLC boosted its position in shares of KLA by 4.6% during the 1st quarter. IFC Advisors LLC now owns 342 shares of the semiconductor company's stock valued at $232,000 after acquiring an additional 15 shares during the last quarter. Trust Investment Advisors boosted its position in shares of KLA by 1.3% during the 1st quarter. Trust Investment Advisors now owns 1,188 shares of the semiconductor company's stock valued at $808,000 after acquiring an additional 15 shares during the last quarter. Lockerman Financial Group Inc. boosted its position in shares of KLA by 3.8% during the 1st quarter. Lockerman Financial Group Inc. now owns 438 shares of the semiconductor company's stock valued at $298,000 after acquiring an additional 16 shares during the last quarter. Finally, Childress Capital Advisors LLC boosted its position in shares of KLA by 3.3% during the 1st quarter. Childress Capital Advisors LLC now owns 495 shares of the semiconductor company's stock valued at $337,000 after acquiring an additional 16 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price target on KLA from $770.00 to $922.00 and gave the company a "buy" rating in a research report on Friday. Citigroup lifted their price target on KLA from $1,035.00 to $1,060.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial reissued an "outperform" rating and set a $950.00 price objective (up from $850.00) on shares of KLA in a report on Friday. Finally, Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, KLA presently has a consensus rating of "Hold" and an average target price of $890.59.

KLA Stock Performance

Shares of NASDAQ:KLAC traded up $28.98 during mid-day trading on Monday, reaching $915.62. 1,064,513 shares of the company traded hands, compared to its average volume of 981,847. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $945.87. The firm has a market cap of $121.08 billion, a PE ratio of 30.13, a PEG ratio of 1.63 and a beta of 1.44. The company's 50 day moving average price is $875.07 and its 200-day moving average price is $769.31. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.62 and a quick ratio of 1.83.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.53 by $0.85. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.08 billion. KLA had a net margin of 33.41% and a return on equity of 112.41%. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.60 earnings per share. On average, equities analysts expect that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio is currently 25.01%.

KLA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at KLA

In other news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the transaction, the chief financial officer owned 27,779 shares of the company's stock, valued at $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total value of $34,768.50. Following the completion of the transaction, the chief accounting officer directly owned 2,616 shares of the company's stock, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,860 shares of company stock valued at $8,196,798 over the last 90 days. 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.