Community Financial Services Group LLC Has $5.68 Million Stake in KLA Corporation (NASDAQ:KLAC)

Community Financial Services Group LLC lifted its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,356 shares of the semiconductor company's stock after buying an additional 876 shares during the period. Community Financial Services Group LLC's holdings in KLA were worth $5,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KLAC. Sigma Planning Corp boosted its position in shares of KLA by 6.5% during the fourth quarter. Sigma Planning Corp now owns 772 shares of the semiconductor company's stock worth $486,000 after buying an additional 47 shares during the period. Delta Financial Group Inc. acquired a new position in shares of KLA during the fourth quarter worth about $254,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of KLA by 1.9% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,402 shares of the semiconductor company's stock worth $17,267,000 after buying an additional 500 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of KLA during the fourth quarter worth about $142,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of KLA by 427.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 6,413 shares of the semiconductor company's stock worth $4,041,000 after buying an additional 5,196 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a research report on Tuesday, May 20th. TD Cowen increased their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. TD Securities increased their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, Stifel Nicolaus increased their price target on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $807.06.

KLA Price Performance

Shares of NASDAQ KLAC opened at $856.28 on Tuesday. The firm has a market cap of $113.23 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. 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 $914.83. The business's 50 day moving average is $759.15 and its 200-day moving average is $718.30.

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

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued 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 0.89%. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is currently 27.63%.

KLA announced that its Board of Directors has initiated a share repurchase 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 typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

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.

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