Bryn Mawr Capital Management LLC Sells 2,468 Shares of KLA Corporation (NASDAQ:KLAC)

Bryn Mawr Capital Management LLC lessened its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,273 shares of the semiconductor company's stock after selling 2,468 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in KLA were worth $9,023,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. 3Chopt Investment Partners LLC purchased a new position in shares of KLA in the first quarter worth approximately $402,000. GAMMA Investing LLC boosted its holdings in shares of KLA by 40.1% in the first quarter. GAMMA Investing LLC now owns 2,463 shares of the semiconductor company's stock worth $1,674,000 after buying an additional 705 shares during the last quarter. Confluence Wealth Services Inc. purchased a new position in shares of KLA in the first quarter worth approximately $1,479,000. Keyvantage Wealth LLC bought a new stake in KLA during the 4th quarter worth approximately $214,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in KLA by 2.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 138,990 shares of the semiconductor company's stock worth $93,624,000 after acquiring an additional 3,846 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Stock Down 0.6%

KLAC stock traded down $5.96 during mid-day trading on Friday, hitting $931.12. The stock had a trading volume of 681,144 shares, compared to its average volume of 1,171,522. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $945.87. The company has a fifty day moving average of $846.00 and a 200 day moving average of $750.77. The stock has a market capitalization of $123.13 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 1.74 and a beta of 1.42.

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

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a $1.90 dividend. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

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

Insider Buying and Selling

In related news, 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 transaction of $34,768.50. Following the sale, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer owned 27,779 shares in the company, valued at $21,291,492.34. The trade was a 3.54% 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 three months. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Cowen restated a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, KLA has an average rating of "Hold" and a consensus price target of $840.33.

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.