Canandaigua National Bank & Trust Co. Takes $1.64 Million Position in KLA Corporation $KLAC

Key Points

• Canandaigua National Bank & Trust acquired 5,431 KLA shares worth approximately $1.64 million in the second quarter. Other institutional investors also increased or initiated positions, with institutions and hedge funds owning 86.65% of the stock.
• KLA reported quarterly revenue of $3.66 billion, up 15.2% year over year, and EPS of $1.05, exceeding analyst expectations. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $223.70.
• Despite strong fundamentals, KLA trades at a demanding valuation with a P/E ratio above 52, while insiders have sold $34.25 million of stock over the past three months. The stock opened at $192.85, well below its 52-week high of $307.37.

Canandaigua National Bank & Trust Co. acquired a new position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,431 shares of the semiconductor company's stock, valued at approximately $1,639,000.

Other hedge funds have also modified their holdings of the company. PFA Pension Forsikringsaktieselskab acquired a new position in shares of KLA in the 4th quarter valued at $119,618,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of KLA by 151.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 116,292 shares of the semiconductor company's stock worth $171,230,000 after buying an additional 70,000 shares during the period. Pinebridge Investments LLC purchased a new position in shares of KLA in the fourth quarter worth approximately $32,812,000. CoreCap Advisors LLC lifted its position in shares of KLA by 839.9% in the 2nd quarter. CoreCap Advisors LLC now owns 25,940 shares of the semiconductor company's stock valued at $7,826,000 after acquiring an additional 23,180 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of KLA by 31.4% in the 4th quarter. Russell Investments Group Ltd. now owns 91,413 shares of the semiconductor company's stock valued at $111,910,000 after acquiring an additional 21,850 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KLA

In other news, EVP Mary Beth Wilkinson sold 13,802 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $195.50, for a total value of $2,698,291.00. Following the completion of the transaction, the executive vice president owned 22,110 shares in the company, valued at approximately $4,322,505. This represents a 38.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 45,120 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $221.34, for a total transaction of $9,986,725.44. Following the sale, the chief executive officer directly owned 713,830 shares of the company's stock, valued at approximately $157,996,990.71. The trade was a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 156,499 shares of company stock worth $34,248,710 in the last three months. Corporate insiders own 91.48% of the company's stock.

KLA News Summary

Here are the key news stories impacting KLA this week:

• Positive Sentiment: A broad semiconductor rally, fueled by renewed optimism surrounding artificial intelligence, strong memory demand and upcoming chip-industry earnings, supports the outlook for KLA’s wafer-inspection and process-control equipment. Semiconductor Rally Powers S&P 500 to Fresh Record High
• Positive Sentiment: KLA’s latest quarterly results exceeded expectations: revenue rose 15.2% year over year to $3.66 billion, while EPS of $1.05 topped the $1.00 consensus estimate. Management also issued quarterly EPS guidance of $1.06 to $1.26, offering support for the company’s growth outlook.
• Positive Sentiment: Unusually high options activity, including elevated call volume, indicates that some traders are positioning for a rebound after the stock’s recent retreat. Options activity is a sentiment signal rather than a fundamental catalyst.
• Neutral Sentiment: Analyst sentiment remains broadly favorable, with a reported “Moderate Buy” consensus and several price targets above recent trading levels. However, KLA’s valuation is demanding, with a price-to-earnings ratio above 50, leaving the stock vulnerable to disappointment if semiconductor capital spending slows. KLA Stock Looks Fully Valued After Its Huge Run
• Negative Sentiment: CAO Virendra A. Kirloskar sold 4,504 shares for approximately $881,000, while EVP Mary Beth Wilkinson sold 13,802 shares worth about $2.70 million. These transactions reduced their holdings by roughly 36% and 38%, respectively, adding to a recent pattern of insider selling.
• Negative Sentiment: DekaBank disclosed a roughly 90% reduction in its KLA position, equivalent to approximately 2.86 million shares valued near $862 million at the reporting date. Although the 13F reflects holdings as of June 30 rather than current trading, the disclosure may reinforce concerns about institutional profit-taking.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KLAC shares. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price objective on shares of KLA in a research report on Wednesday, July 29th. Citic Securities raised their target price on KLA from $135.00 to $197.00 in a research report on Wednesday, May 6th. Morgan Stanley reissued an "overweight" rating and set a $253.00 price target on shares of KLA in a research report on Wednesday, July 29th. Wells Fargo & Company set a $245.00 price objective on KLA and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a "buy" rating and set a $260.00 target price (up from $200.00) on shares of KLA in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average price target of $223.70.

KLA Trading Down 1.3%

Shares of NASDAQ:KLAC opened at $192.85 on Thursday. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $251.92 billion, a PE ratio of 52.59, a P/E/G ratio of 1.50 and a beta of 1.45. KLA Corporation has a 1 year low of $83.22 and a 1 year high of $307.37. The firm has a fifty day moving average price of $223.50 and a 200 day moving average price of $182.69.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.05. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.61 billion. KLA had a net margin of 35.57% and a return on equity of 87.66%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. Analysts expect that KLA Corporation will post 5.42 EPS for the current fiscal year.

KLA Company Profile

KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA's offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.

Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.

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