Envestnet Portfolio Solutions Inc. Acquires 13,794 Shares of KLA Corporation $KLAC

Key Points

• Institutional buying increased: Envestnet Portfolio Solutions raised its KLA holdings by 1,195.3% in the second quarter, acquiring 13,794 additional shares worth approximately $4.51 million. Other hedge funds also significantly increased their positions, with institutional investors owning 86.65% of the stock.
• KLA delivered stronger-than-expected results: The semiconductor equipment maker reported quarterly EPS of $1.05 versus the $1.00 consensus estimate, while revenue rose 15.2% year over year to $3.66 billion.
• Analyst sentiment remains positive, despite insider selling: KLA has a “Moderate Buy” consensus rating and an average price target of $222.22, while insiders sold about $58.4 million of stock over the past quarter. Shares recently opened at $187.11, and the company maintains a $0.23 quarterly dividend.

Envestnet Portfolio Solutions Inc. lifted its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 1,195.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,948 shares of the semiconductor company's stock after acquiring an additional 13,794 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in KLA were worth $4,510,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KLAC. Andra AP fonden raised its holdings in shares of KLA by 1,097.7% during the 2nd quarter. Andra AP fonden now owns 152,920 shares of the semiconductor company's stock valued at $46,137,000 after buying an additional 140,152 shares during the period. Anchor Investment Management LLC boosted its position in KLA by 1,225.0% in the 2nd quarter. Anchor Investment Management LLC now owns 1,590 shares of the semiconductor company's stock valued at $480,000 after buying an additional 1,470 shares during the last quarter. Cherry Tree Wealth Management LLC grew its stake in shares of KLA by 900.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 120 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 108 shares in the last quarter. Bouchey Financial Group Ltd. grew its stake in shares of KLA by 1,038.7% during the second quarter. Bouchey Financial Group Ltd. now owns 1,412 shares of the semiconductor company's stock valued at $426,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Capstone Financial Advisors Inc. purchased a new stake in shares of KLA during the second quarter worth about $747,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Activity at KLA

In other KLA news, CAO Virendra Kirloskar sold 4,504 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $195.50, for a total value of $880,532.00. Following the transaction, the chief accounting officer owned 7,972 shares in the company, valued at approximately $1,558,526. This represents a 36.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the completion of the sale, the executive vice president owned 77,681 shares of the company's stock, valued at approximately $16,167,746.53. The trade was a 43.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 285,432 shares of company stock worth $58,369,370. Company insiders own 91.48% of the company's stock.

KLA Price Performance

Shares of NASDAQ KLAC opened at $187.11 on Friday. The stock has a market cap of $244.47 billion, a P/E ratio of 51.03, a P/E/G ratio of 1.68 and a beta of 1.45. The firm's 50-day simple moving average is $188.84 and its 200 day simple moving average is $192.02. KLA Corporation has a fifty-two week low of $98.10 and a fifty-two week high of $307.37. The company has a quick ratio of 2.03, a current ratio of 2.88 and a debt-to-equity ratio of 0.93.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.05. KLA had a return on equity of 87.66% and a net margin of 35.57%.The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. Equities analysts expect that KLA Corporation will post 5.41 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.23 per share. This is a positive change from KLA's previous quarterly dividend of $0.23. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 17th. KLA's dividend payout ratio is presently 25.07%.

Analysts Set New Price Targets

A number of research analysts recently commented on KLAC shares. Bank of America increased their price target on KLA from $210.00 to $317.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Zacks Research upgraded KLA from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating and set a $230.00 target price on shares of KLA in a research note on Tuesday, July 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of KLA in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company set a $245.00 price objective on shares of KLA and gave the stock an "overweight" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, KLA presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.22.

KLA Company Profile

KLA Corporation NASDAQ: KLAC develops process-control and yield-management technologies used by semiconductor and other advanced-electronics manufacturers. Its systems help customers detect, measure and analyze defects and variations during the production of integrated circuits, enabling manufacturers to improve process performance, product quality and manufacturing yields.

The company's portfolio includes wafer and reticle inspection systems, metrology and measurement tools, defect-review and analysis equipment, and software that supports process control and data management.

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