Harbor Island Capital LLC Sells 21,134 Shares of KLA Corporation $KLAC

Key Points

• Harbor Island Capital reduced its KLA position by 15.5%, selling 21,134 shares in the third quarter and retaining 114,826 shares valued at $22.4 million. Institutional investors own 86.65% of KLA.
• Analysts maintain a generally positive outlook, with 19 Buy ratings and 10 Holds, producing a consensus rating of “Moderate Buy” and an average price target of $221.26.
• KLA exceeded quarterly earnings and revenue expectations, reporting $1.05 in EPS and $3.66 billion in revenue, while revenue increased 15.2% year over year. Company insiders, however, sold 243,339 shares worth $46.9 million over the past 90 days.

Harbor Island Capital LLC trimmed its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,826 shares of the semiconductor company's stock after selling 21,134 shares during the quarter. KLA accounts for 5.7% of Harbor Island Capital LLC's portfolio, making the stock its 5th largest position. Harbor Island Capital LLC's holdings in KLA were worth $22,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Gibbs Wealth Management increased its holdings in shares of KLA by 89.9% in the third quarter. Gibbs Wealth Management now owns 2,511 shares of the semiconductor company's stock worth $489,000 after acquiring an additional 1,189 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of KLA by 2.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 51,367 shares of the semiconductor company's stock valued at $10,013,000 after purchasing an additional 1,034 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of KLA by 17.3% during the 3rd quarter. Inspire Investing LLC now owns 272,985 shares of the semiconductor company's stock valued at $53,213,000 after purchasing an additional 40,314 shares in the last quarter. XXI Wealth LLC lifted its holdings in shares of KLA by 3.7% during the 3rd quarter. XXI Wealth LLC now owns 2,577 shares of the semiconductor company's stock valued at $502,000 after purchasing an additional 92 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of KLA by 0.5% in the 3rd quarter. Yousif Capital Management LLC now owns 133,142 shares of the semiconductor company's stock valued at $25,953,000 after purchasing an additional 616 shares during the period. 86.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $260.00 target price (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. TD Cowen restated a "buy" rating and set a $260.00 target price (up from $200.00) on shares of KLA in a report on Thursday, July 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $180.00 price target (up from $170.00) on shares of KLA in a research note on Wednesday, July 29th. Susquehanna set a $215.00 price target on shares of KLA and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, Stifel Nicolaus set a $250.00 price target on shares of KLA and gave the company a "buy" rating in a report on Wednesday, July 29th. Nineteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $221.26.

Insider Transactions at KLA

In other news, EVP Brian Lorig sold 59,586 shares of KLA stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $208.13, for a total value of $12,401,634.18. Following the sale, the executive vice president directly owned 77,681 shares in the company, valued at $16,167,746.53. This trade represents a 43.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Wallace sold 87,568 shares of KLA stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the completion of the sale, the chief executive officer owned 778,944 shares in the company, valued at $154,970,908.80. This trade represents a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 243,339 shares of company stock worth $46,903,454. Insiders own 79.39% of the company's stock.

KLA Stock Performance

Shares of KLA stock opened at $145.61 on Friday. The firm has a market cap of $190.02 billion, a price-to-earnings ratio of 39.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. The stock's 50-day moving average is $182.06 and its 200-day moving average is $196.95. KLA Corporation has a one year low of $107.20 and a one year high of $307.37. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.88 and a quick ratio of 2.03.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.61 billion. KLA had a return on equity of 87.66% and a net margin of 35.57%. KLA's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. Equities analysts predict that KLA Corporation will post 5.43 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 17th. This is a positive change from KLA's previous quarterly dividend of $0.23. KLA's dividend payout ratio (DPR) is presently 25.07%.

KLA Profile

KLA Corporation NASDAQ: KLAC develops process control, inspection and yield management solutions for the semiconductor and other advanced manufacturing industries. Its technologies help manufacturers identify defects, measure critical dimensions and monitor production processes to improve quality, reliability and manufacturing efficiency.

The company's product portfolio includes wafer and reticle inspection systems, metrology and measurement tools, defect review and classification systems, and software for analyzing manufacturing data.

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