Elyxium Wealth LLC Buys New Shares in KLA Corporation (NASDAQ:KLAC)

Elyxium Wealth LLC bought a new stake in KLA Corporation (NASDAQ:KLAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 650 shares of the semiconductor company's stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KLAC. Alpine Bank Wealth Management acquired a new position in shares of KLA during the first quarter valued at about $35,000. Olde Wealth Management LLC acquired a new position in shares of KLA during the first quarter valued at about $36,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of KLA by 527.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 58 shares during the period. HM Payson & Co. raised its holdings in shares of KLA by 270.0% during the first quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 54 shares during the period. Finally, Hurley Capital LLC acquired a new position in shares of KLA during the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Transactions at KLA

In related news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the transaction, the chief accounting officer owned 2,616 shares of the company's stock, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 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. Insiders have sold 11,860 shares of company stock valued at $8,196,798 in the last quarter. Insiders own 0.12% of the company's stock.

KLA Stock Performance

Shares of KLAC stock opened at $931.12 on Friday. The stock has a market capitalization of $123.13 billion, a P/E ratio of 33.85, a PEG ratio of 1.73 and a beta of 1.42. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. The firm's 50 day moving average is $850.60 and its 200 day moving average is $753.70. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $945.87.

KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results 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 net margin of 31.99% and a return on equity of 112.97%. The business's revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.26 EPS. On average, sell-side analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

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

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a $1.90 dividend. This is a positive change 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 dividend yield of 0.82%. KLA's dividend payout ratio is presently 27.63%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KLAC. Morgan Stanley boosted their target price on shares of KLA from $868.00 to $916.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. TD Securities boosted their target price on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. UBS Group boosted their target price on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their target price on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $840.33.

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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