GKV Capital Management Co. Inc. Has $192,000 Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Key Points

• GKV Capital Management Co. Inc. reduced its stake in KLA Corporation by 81.1%, selling 1,217 shares, leaving it with only 283 shares valued at $192,000.
• During the first quarter, several institutional investors, including Alpine Bank Wealth Management and E Fund Management Hong Kong Co. Ltd., acquired new stakes in KLA, indicating increased interest from large investors.
• KLA's recent quarterly earnings report revealed an EPS of $9.38, surpassing estimates, with a substantial revenue increase of 23.6% compared to the same quarter last year.

GKV Capital Management Co. Inc. lessened its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 81.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283 shares of the semiconductor company's stock after selling 1,217 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in KLA were worth $192,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Prudential PLC increased its position in KLA by 40.9% during the 1st quarter. Prudential PLC now owns 12,489 shares of the semiconductor company's stock worth $8,490,000 after purchasing an additional 3,627 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in KLA by 131.4% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 123,292 shares of the semiconductor company's stock worth $83,814,000 after purchasing an additional 70,000 shares during the period. Resona Asset Management Co. Ltd. increased its position in KLA by 7.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 42,245 shares of the semiconductor company's stock worth $28,679,000 after purchasing an additional 2,951 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in KLA during the 1st quarter worth approximately $476,000. Finally, Todd Asset Management LLC increased its position in KLA by 11.5% during the 1st quarter. Todd Asset Management LLC now owns 46,282 shares of the semiconductor company's stock worth $31,462,000 after purchasing an additional 4,765 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Stock Down 8.4%

Shares of NASDAQ:KLAC traded down $80.47 during trading on Friday, reaching $874.94. 2,063,166 shares of the company traded hands, compared to its average volume of 1,163,453. The firm has a fifty day simple moving average of $902.52 and a 200 day simple moving average of $780.56. The firm has a market cap of $115.46 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 3.23 and a beta of 1.44. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $959.26. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 1.25.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.85. KLA had a net margin of 33.41% and a return on equity of 112.41%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business earned $6.60 EPS. KLA's quarterly revenue was up 23.6% compared to the same quarter last year. Analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $7.60 dividend on an annualized basis and a yield of 0.9%. KLA's payout ratio is currently 25.01%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays boosted their price target on KLA from $590.00 to $750.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. TD Securities increased their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on KLA from $900.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Raymond James Financial reissued an "outperform" rating and set a $950.00 price target (up previously from $850.00) on shares of KLA in a research note on Friday, August 1st. Finally, Morgan Stanley increased their price target on KLA from $916.00 to $928.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $890.59.

Insider Activity

In other news, EVP Brian Lorig sold 8,049 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $913.68, for a total transaction of $7,354,210.32. Following the transaction, the executive vice president owned 11,479 shares in the company, valued at approximately $10,488,132.72. The trade was a 41.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Virendra A. Kirloskar sold 39 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was 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 in the company, valued at approximately $2,332,164. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,908 shares of company stock worth $18,038,659 in the last 90 days. Insiders own 0.12% of the company's stock.

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.