Choreo LLC Cuts Stake in KLA Corporation (NASDAQ:KLAC)

Choreo LLC cut its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,138 shares of the semiconductor company's stock after selling 441 shares during the period. Choreo LLC's holdings in KLA were worth $4,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC raised its stake in KLA by 12.0% during the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 15 shares during the last quarter. IFC Advisors LLC raised its stake in 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 raised its stake in 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. raised its stake in 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 raised its stake in 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 owned by hedge funds and other institutional investors.

KLA Trading Down 0.2%

Shares of KLAC stock traded down $2.09 during mid-day trading on Friday, hitting $902.09. 807,981 shares of the company's stock were exchanged, compared to its average volume of 836,322. KLA Corporation has a fifty-two week low of $551.33 and a fifty-two week high of $945.87. The stock has a 50-day simple moving average of $862.09 and a two-hundred day simple moving average of $761.33. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The stock has a market cap of $119.29 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.68 and a beta of 1.42.

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

KLA declared that its board has approved a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer directly owned 27,779 shares of the company's stock, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction on 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 in the company, valued at $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,860 shares of company stock valued at $8,196,798. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. Barclays cut their target price on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Cowen reissued 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 research note on Tuesday, June 24th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $849.76.

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.