2,251 Shares in KLA Corporation (NASDAQ:KLAC) Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. bought a new stake in KLA Corporation (NASDAQ:KLAC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,251 shares of the semiconductor company's stock, valued at approximately $1,479,000.

A number of other large investors have also recently modified their holdings of KLAC. Anchor Investment Management LLC grew its holdings in KLA by 12.0% during the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 15 shares during the period. Avantax Planning Partners Inc. grew its holdings in KLA by 2.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company's stock valued at $359,000 after purchasing an additional 16 shares during the period. Lockerman Financial Group Inc. grew its holdings in KLA by 3.8% during the first quarter. Lockerman Financial Group Inc. now owns 438 shares of the semiconductor company's stock valued at $298,000 after purchasing an additional 16 shares during the period. Childress Capital Advisors LLC grew its holdings in KLA by 3.3% during the first quarter. Childress Capital Advisors LLC now owns 495 shares of the semiconductor company's stock valued at $337,000 after purchasing an additional 16 shares during the period. Finally, Sunflower Bank N.A. grew its holdings in KLA by 4.7% during the first quarter. Sunflower Bank N.A. now owns 381 shares of the semiconductor company's stock valued at $259,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Price Performance

Shares of KLAC stock traded down $13.07 on Friday, reaching $889.87. The company's stock had a trading volume of 1,175,356 shares, compared to its average volume of 1,129,588. 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 12-month low of $551.33 and a 12-month high of $914.83. The company has a market capitalization of $117.68 billion, a P/E ratio of 29.14, a PEG ratio of 1.69 and a beta of 1.40. The stock's 50 day simple moving average is $778.92 and its 200-day simple moving average is $724.65.

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

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $1.90 per share. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.85%. KLA's dividend payout ratio (DPR) is presently 27.63%.

KLA declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on KLAC. Stifel Nicolaus increased their price objective on KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. TD Cowen increased their price objective on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. TD Securities raised their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Cowen reaffirmed a "hold" rating on shares of KLA in a report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price target on shares of KLA in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $815.39.

Insider Buying and Selling at KLA

In other news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction dated 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 now owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. 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.