ICONIQ Capital LLC Has $952,000 Stock Position in KLA Corporation $KLAC

Key Points

• ICONIQ Capital LLC increased its stake in KLA Corporation by 38% during Q1, owning 1,401 shares worth approximately $952,000.
• KLA reported a quarterly earnings per share (EPS) of $9.38, surpassing estimates by $0.85, and its revenue grew by 23.6% year-over-year to $3.17 billion.
• The company announced a $5 billion stock repurchase plan, indicating the board's belief that its shares are currently undervalued.

ICONIQ Capital LLC lifted its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 38.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,401 shares of the semiconductor company's stock after purchasing an additional 386 shares during the quarter. ICONIQ Capital LLC's holdings in KLA were worth $952,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms recently issued reports on KLAC. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $920.00 price target (up from $870.00) on shares of KLA in a report on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. TD Cowen upped their target price on shares of KLA from $800.00 to $900.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Needham & Company LLC reiterated a "buy" rating and issued a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their target price on shares of KLA from $916.00 to $928.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, KLA has an average rating of "Hold" and a consensus price target of $890.59.

KLA Stock Up 0.6%

Shares of KLAC traded up $5.11 during mid-day trading on Thursday, hitting $894.00. 964,110 shares of the company's stock were exchanged, compared to its average volume of 1,143,839. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.62 and a quick ratio of 1.83. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $959.26. The company has a market cap of $117.97 billion, a PE ratio of 29.42, a P/E/G ratio of 3.03 and a beta of 1.44. The company has a 50-day simple moving average of $904.12 and a 200 day simple moving average of $788.04.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.08 billion. During the same quarter last year, the firm earned $6.60 earnings per share. The firm's revenue for the quarter was up 23.6% compared to the same quarter last year. KLA has set its Q1 2026 guidance at 7.760-9.300 EPS. On average, research analysts forecast that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. KLA's dividend payout ratio is presently 25.01%.

KLA declared that its board has approved a stock repurchase 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 buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at KLA

In related news, EVP Brian Lorig sold 8,049 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $913.68, for a total transaction of $7,354,210.32. Following the transaction, the executive vice president directly owned 11,479 shares of the company's stock, valued at approximately $10,488,132.72. The trade was a 41.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 10,801 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $913.68, for a total transaction of $9,868,657.68. Following the completion of the transaction, the chief executive officer directly owned 92,818 shares in the company, valued at $84,805,950.24. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,889 shares of company stock valued at $17,257,637. 0.12% of the stock is owned by corporate insiders.

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.