Illinois Municipal Retirement Fund Acquires 690 Shares of KLA Corporation (NASDAQ:KLAC)

Illinois Municipal Retirement Fund boosted its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,066 shares of the semiconductor company's stock after acquiring an additional 690 shares during the quarter. Illinois Municipal Retirement Fund's holdings in KLA were worth $16,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Diversified Trust Co lifted its stake in shares of KLA by 239.7% in the 1st quarter. Diversified Trust Co now owns 13,378 shares of the semiconductor company's stock valued at $9,094,000 after purchasing an additional 9,440 shares during the last quarter. PDS Planning Inc raised its holdings in KLA by 10.0% during the first quarter. PDS Planning Inc now owns 647 shares of the semiconductor company's stock valued at $440,000 after buying an additional 59 shares in the last quarter. Kraft Davis & Associates LLC acquired a new stake in shares of KLA in the first quarter worth about $228,000. Sequoia Financial Advisors LLC lifted its position in shares of KLA by 10.0% in the first quarter. Sequoia Financial Advisors LLC now owns 2,928 shares of the semiconductor company's stock worth $1,990,000 after buying an additional 267 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its stake in shares of KLA by 150.2% during the 1st quarter. Value Partners Investments Inc. now owns 613 shares of the semiconductor company's stock worth $417,000 after acquiring an additional 368 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KLAC has been the topic of a number of recent analyst reports. Cowen reissued a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a research report on Tuesday. TD Cowen raised their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley decreased their target price on KLA from $870.00 to $868.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $815.39.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the transaction, the chief financial officer now directly owns 27,779 shares of the company's stock, valued at $21,291,492.34. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer now directly owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

KLA Stock Performance

KLA stock traded down $13.07 on Friday, hitting $889.87. The company's stock had a trading volume of 1,175,356 shares, compared to its average volume of 1,126,004. KLA Corporation has a one year low of $551.33 and a one year high of $914.83. The firm has a market cap of $117.68 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The company has a fifty day moving average price of $773.81 and a 200-day moving average price of $722.42.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business earned $5.26 EPS. The firm's revenue was up 35.5% on a year-over-year basis. On average, equities analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio is currently 27.63%.

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

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.