KLA Corporation $KLAC Shares Purchased by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management increased its KLA stake by 11.5% in the third quarter, purchasing 248,700 additional shares. The fund now owns 2.42 million shares worth approximately $471.4 million.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 86.65% of KLA’s shares. Wellington Management, Assenagon Asset Management, the National Pension Service and others also significantly increased their positions.
• KLA exceeded quarterly earnings expectations, reporting $1.05 in adjusted EPS and $3.66 billion in revenue, while analysts maintain a “Moderate Buy” consensus with an average price target of $221.26.

PineStone Asset Management Inc. raised its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,418,400 shares of the semiconductor company's stock after purchasing an additional 248,700 shares during the quarter. KLA accounts for about 3.1% of PineStone Asset Management Inc.'s portfolio, making the stock its 13th biggest position. PineStone Asset Management Inc. owned approximately 0.19% of KLA worth $471,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in KLA by 928.9% during the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company's stock worth $4,471,832,000 after buying an additional 13,381,153 shares in the last quarter. Bank of New York Mellon Corp bought a new position in KLA during the 2nd quarter valued at $2,522,430,000. Assenagon Asset Management S.A. lifted its stake in KLA by 239.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company's stock valued at $1,094,530,000 after acquiring an additional 3,959,927 shares in the last quarter. National Pension Service lifted its stake in KLA by 899.4% during the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company's stock valued at $1,096,673,000 after acquiring an additional 3,271,158 shares in the last quarter. Finally, NEOS Investment Management LLC boosted its holdings in KLA by 987.0% during the 2nd quarter. NEOS Investment Management LLC now owns 979,371 shares of the semiconductor company's stock worth $295,486,000 after acquiring an additional 889,269 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Performance

Shares of KLA stock opened at $165.74 on Friday. The business's fifty day simple moving average is $186.66 and its 200 day simple moving average is $196.64. The firm has a market capitalization of $216.29 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. KLA Corporation has a 12 month low of $107.20 and a 12 month high of $307.37. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93.

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 business had revenue of $3.66 billion for 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%. The business's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. As a group, analysts anticipate that KLA Corporation will post 5.43 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

Several analysts have recently issued reports on KLAC shares. Zacks Research lowered shares of KLA from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $325.00 price target on shares of KLA in a research report on Wednesday, July 29th. Royal Bank Of Canada restated a "sector perform" rating and set a $180.00 price target (up from $170.00) on shares of KLA in a report on Wednesday, July 29th. TD Cowen restated a "buy" rating and set a $260.00 price target (up from $200.00) on shares of KLA in a report on Thursday, July 9th. Finally, UBS Group reduced their price objective on shares of KLA from $215.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, September 1st. Eighteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $221.26.

Insiders Place Their Bets

In related news, CEO Richard Wallace sold 72,019 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total value of $12,378,625.72. Following the transaction, the chief executive officer directly owned 706,925 shares of the company's stock, valued at approximately $121,506,269. The trade was a 9.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Lorig sold 59,586 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 243,339 shares of company stock valued at $46,903,454. 79.39% of the stock is currently owned by company insiders.

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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