KLA Corporation (NASDAQ:KLAC) Shares Purchased by Howard Capital Management Inc.

Key Points

• Howard Capital Management Inc. increased its holdings in KLA Corporation by 6.0% in Q1, bringing their total to 16,043 shares valued at approximately $10.9 million.
• Analysts have issued mixed ratings and increased target prices for KLAC, with Citigroup raising its target to $1,035, while the consensus rating remains a "Hold".
• KLA recently announced a quarterly dividend of $1.90 per share, reflecting a positive change from its previous dividend, and authorized a $5 billion stock buyback program.

Howard Capital Management Inc. boosted its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,043 shares of the semiconductor company's stock after acquiring an additional 911 shares during the period. Howard Capital Management Inc.'s holdings in KLA were worth $10,906,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in shares of KLA in the 1st quarter valued at about $35,000. Olde Wealth Management LLC purchased a new position in shares of KLA in the 1st quarter worth approximately $36,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of KLA in the 1st quarter worth approximately $37,000. Hazlett Burt & Watson Inc. purchased a new position in shares of KLA in the 1st quarter worth approximately $45,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in KLA by 527.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 58 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KLAC has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of KLA from $770.00 to $922.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of KLA from $900.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley lifted their price target on shares of KLA from $916.00 to $928.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Oppenheimer lifted their price target on shares of KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $890.59.

KLA Price Performance

Shares of NASDAQ KLAC traded up $7.61 during trading on Friday, hitting $886.64. 1,474,586 shares of the company were exchanged, compared to its average volume of 908,113. The company has a market cap of $117.25 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.64 and a beta of 1.44. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $945.87. The firm's fifty day moving average price is $872.48 and its 200 day moving average price is $767.52. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $9.38 EPS for the quarter, topping the consensus estimate of $8.53 by $0.85. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. KLA had a net margin of 33.41% and a return on equity of 119.79%. The business's revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.60 EPS. On average, sell-side analysts expect that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a $1.90 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.9%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is presently 27.63%.

KLA declared that its board has initiated a share buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer directly owned 27,779 shares in the company, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Virendra A. Kirloskar sold 39 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the completion of the transaction, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,860 shares of company stock worth $8,196,798 in the last three months. Corporate 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.