KLA Corporation (NASDAQ:KLAC) Stock Holdings Increased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in KLA Corporation by 24.9%, acquiring an additional 6,146 shares, reaching a total of 30,794 shares worth approximately $20.93 million.
• KLA Corporation reported its quarterly earnings of $8.41 EPS, exceeding expectations, with revenue of $3.06 billion, marking a 35.5% increase year-over-year.
• The company declared a quarterly dividend of $1.90, up from $1.70, yielding 0.84%, and announced a $5 billion share repurchase program, indicating confidence in its stock value.

Cetera Investment Advisers lifted its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,794 shares of the semiconductor company's stock after buying an additional 6,146 shares during the period. Cetera Investment Advisers' holdings in KLA were worth $20,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of KLA during the first quarter worth approximately $35,000. Olde Wealth Management LLC acquired a new stake in shares of KLA in the 1st quarter valued at $36,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of KLA during the 1st quarter valued at $45,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of KLA by 527.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in KLA by 270.0% during the 1st quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock worth $50,000 after buying an additional 54 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

Shares of NASDAQ KLAC traded down $28.93 during midday trading on Thursday, hitting $896.06. The company had a trading volume of 833,890 shares, compared to its average volume of 1,159,333. 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 Corporation has a twelve month low of $551.33 and a twelve month high of $945.87. The business has a 50-day simple moving average of $870.25 and a two-hundred day simple moving average of $766.22. The firm has a market capitalization of $118.49 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.71 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 net margin of 31.99% and a return on equity of 112.97%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $5.26 earnings per share. KLA's revenue was up 35.5% compared to the same quarter last year. Equities research analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA announced that its board has approved a share repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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 $1.90 dividend. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.85%. KLA's dividend payout ratio is currently 27.63%.

Insider Activity 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 shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the transaction, the chief financial officer owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the transaction, the chief executive officer owned 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,860 shares of company stock valued at $8,196,798 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KLAC. Stifel Nicolaus boosted their target price on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. The Goldman Sachs Group began coverage on shares of KLA in a report on Thursday, July 10th. They issued a "neutral" rating and a $980.00 price objective for the company. TD Securities raised their price target on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Cantor Fitzgerald restated an "overweight" rating on shares of KLA in a research note on Tuesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a research report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, KLA presently has a consensus rating of "Hold" and an average price target of $858.19.

KLA Company 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.