Raymond James Financial Inc. Grows Stake in KLA Corporation $KLAC

Key Points

• Raymond James Financial Inc. increased its holdings in KLA Corporation by 2.8% in Q1, now owning 232,060 shares valued at approximately $157.8 million.
• KLA's recent earnings report showed an earnings per share (EPS) of $9.38, surpassing estimates significantly, along with a year-over-year revenue growth of 23.6%.
• The company declared a quarterly dividend of $1.90 per share, reflecting a yield of 0.9%, and authorized a stock buyback plan worth $5 billion.

Raymond James Financial Inc. raised its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 232,060 shares of the semiconductor company's stock after acquiring an additional 6,357 shares during the quarter. Raymond James Financial Inc. owned approximately 0.18% of KLA worth $157,754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of KLA in the 1st quarter valued at about $35,000. Olde Wealth Management LLC acquired a new stake in shares of KLA in the 1st quarter valued at about $36,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of KLA in the 1st quarter valued at about $37,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of KLA in the 1st quarter valued at about $45,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of 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 period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total transaction of $34,768.50. Following the sale, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer owned 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,908 shares of company stock worth $18,038,659 in the last 90 days. Corporate insiders own 0.12% of the company's stock.

KLA Price Performance

NASDAQ KLAC traded up $2.36 during mid-day trading on Wednesday, hitting $878.44. The stock had a trading volume of 978,414 shares, compared to its average volume of 1,075,947. 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 $115.92 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 2.98 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 $783.62. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 1.25.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.85. KLA had a return on equity of 112.41% and a net margin of 33.41%.The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $6.60 EPS. KLA's quarterly revenue was up 23.6% on a year-over-year basis. KLA has set its Q1 2026 guidance at 7.760-9.300 EPS. Equities analysts forecast that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA announced that its board has initiated a stock repurchase 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 buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

KLA Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley upped their price objective on KLA from $916.00 to $928.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KLA in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft downgraded KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective for the company. in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $920.00 target price (up from $870.00) on shares of KLA in a research note on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $890.59.

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.