KLA Corporation $KLAC Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its KLA stake by 23.9% in the third quarter, selling 44,420 shares and retaining 141,567 shares valued at about $27.6 million.
• Other major investors moved in the opposite direction: Wellington Management and Assenagon significantly increased their holdings, while institutional investors collectively own 86.65% of KLA.
• KLA reported quarterly EPS of $1.22, beating estimates of $1.18, as revenue rose 28.9% year over year to $4.14 billion. Analysts’ average rating was “Moderate Buy,” with an average price target of $220.35.

AIA Group Ltd lessened its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,567 shares of the semiconductor company's stock after selling 44,420 shares during the period. AIA Group Ltd's holdings in KLA were worth $27,596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in KLA by 928.9% during the 2nd quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company's stock valued at $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 about $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 during the period. National Pension Service boosted its holdings in shares of 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of KLA during the 3rd quarter valued at about $377,898,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Price Performance

Shares of KLA stock opened at $156.04 on Wednesday. The company has a current ratio of 2.76, a quick ratio of 1.86 and a debt-to-equity ratio of 0.88. The firm has a market cap of $203.32 billion, a PE ratio of 39.01, a PEG ratio of 1.25 and a beta of 1.49. KLA Corporation has a 12 month low of $107.20 and a 12 month high of $307.37. The stock has a 50 day moving average of $177.49 and a 200 day moving average of $181.89.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.04. KLA had a net margin of 36.25% and a return on equity of 89.30%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm earned $8.47 earnings per share. KLA's revenue was up 28.9% on a year-over-year basis. On average, research analysts expect that KLA Corporation will post 5.73 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a $0.23 dividend. This is a boost from KLA's previous quarterly dividend of $0.23. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, August 17th. KLA's dividend payout ratio is 23.00%.

Analysts Set New Price Targets

KLAC has been the subject of a number of research reports. Cantor Fitzgerald set a $240.00 target price on shares of KLA and gave the company an "overweight" rating in a research note on Thursday, October 29th. Oppenheimer restated an "outperform" rating and set a $260.00 price target (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $195.00 price target (down from $220.00) on shares of KLA in a research report on Wednesday, July 29th. Susquehanna lowered their price objective on shares of KLA from $215.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, October 29th. Finally, UBS Group reissued a "neutral" rating and set a $180.00 price objective (down from $190.00) on shares of KLA in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, KLA presently has an average rating of "Moderate Buy" and an average price target of $220.35.

Insider Activity

In other news, CEO Richard Wallace sold 87,568 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the transaction, the chief executive officer owned 778,944 shares of the company's stock, valued at approximately $154,970,908.80. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian Lorig sold 59,586 shares of the firm'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 represents a 43.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 219,173 shares of company stock worth $42,201,914 over the last quarter. 79.39% of the stock is currently owned by insiders.

KLA Company 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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