Commerzbank Aktiengesellschaft FI Increases Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Commerzbank Aktiengesellschaft FI increased its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 551.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,181 shares of the semiconductor company's stock after purchasing an additional 5,232 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in KLA were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in KLA during the 1st quarter valued at approximately $35,000. Olde Wealth Management LLC acquired a new stake in KLA during the 1st quarter valued at approximately $36,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in 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 during the period. HM Payson & Co. lifted its stake in KLA by 270.0% during the 1st quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 54 shares during the period. Finally, Hurley Capital LLC acquired a new stake in KLA during the 4th quarter valued at approximately $51,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Up 0.4%

Shares of KLAC stock traded up $3.59 on Thursday, hitting $937.08. 1,135,315 shares of the stock traded hands, compared to its average volume of 1,136,631. The firm's 50-day moving average price is $841.30 and its two-hundred day moving average price is $748.68. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. The stock has a market capitalization of $123.92 billion, a PE ratio of 34.06, a PEG ratio of 1.74 and a beta of 1.42. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $942.36.

KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 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 company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the prior year, the company posted $5.26 earnings per share. KLA's revenue for the quarter was up 35.5% compared to the same quarter last year. As a group, analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

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

KLA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a $1.90 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.81%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is presently 27.63%.

Insider Buying and Selling at KLA

In other news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were 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 of the company's stock, valued at approximately $2,332,164. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer directly owned 78,740 shares in the company, 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 90 days. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Oppenheimer lifted their target price on shares of KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Citigroup reaffirmed a "buy" rating and set a $1,035.00 target price (up from $835.00) on shares of KLA in a report on Monday, July 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. Finally, Morgan Stanley lifted their target price on shares of KLA from $868.00 to $916.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $840.33.

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.