KLA Corporation $KLAC Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in KLA Corporation by 2.5%, now holding 29,620 shares valued at approximately $20.1 million.
• KLA reported a Q2 earnings per share (EPS) of $9.38, beating analyst estimates and reflecting a 23.6% year-over-year increase in revenue.
• The company has initiated a $5.0 billion share buyback program, indicating that its board believes the stock is undervalued.

Comerica Bank decreased its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 29,620 shares of the semiconductor company's stock after selling 747 shares during the period. Comerica Bank's holdings in KLA were worth $20,136,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Synovus Financial Corp grew its stake in shares of KLA by 14.3% during the first quarter. Synovus Financial Corp now owns 8,205 shares of the semiconductor company's stock worth $5,578,000 after acquiring an additional 1,024 shares during the last quarter. ICONIQ Capital LLC grew its stake in shares of KLA by 38.0% during the first quarter. ICONIQ Capital LLC now owns 1,401 shares of the semiconductor company's stock worth $952,000 after acquiring an additional 386 shares during the last quarter. Cadence Bank grew its stake in shares of KLA by 3.4% during the first quarter. Cadence Bank now owns 987 shares of the semiconductor company's stock worth $671,000 after acquiring an additional 32 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of KLA by 16.6% during the first quarter. Smartleaf Asset Management LLC now owns 1,590 shares of the semiconductor company's stock worth $1,072,000 after acquiring an additional 226 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of KLA by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 72,743 shares of the semiconductor company's stock worth $49,450,000 after acquiring an additional 1,181 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Activity

In other news, CEO Richard P. Wallace sold 10,801 shares of the 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 $9,868,657.68. Following the transaction, the chief executive officer owned 92,818 shares in the company, valued at $84,805,950.24. This trade represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Lorig sold 8,049 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $913.68, for a total value of $7,354,210.32. Following the transaction, the executive vice president owned 11,479 shares in the company, valued at $10,488,132.72. This trade represents a 41.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,889 shares of company stock worth $17,257,637 in the last quarter. Corporate insiders own 0.12% of the company's stock.

KLA Stock Performance

KLA stock traded up $5.11 during mid-day trading on Thursday, hitting $894.00. The company had a trading volume of 964,163 shares, compared to its average volume of 1,024,690. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 1.25. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $959.26. The company's fifty day moving average is $904.58 and its 200-day moving average is $789.03. The company has a market capitalization of $117.97 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 3.03 and a beta of 1.44.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $9.38 EPS for the quarter, topping 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 business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm posted $6.60 EPS. The business's quarterly revenue was up 23.6% compared to the same quarter last year. KLA has set its Q1 2026 guidance at 7.760-9.300 EPS. Equities research analysts predict that KLA Corporation will post 31.59 EPS for the current year.

KLA declared that its board has approved a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

KLA Announces Dividend

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

Analysts Set New Price Targets

KLAC has been the topic of a number of research analyst reports. UBS Group boosted their price target on KLA from $775.00 to $960.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $950.00 target price (up previously from $850.00) on shares of KLA in a report on Friday, August 1st. Barclays lifted their target price on KLA from $590.00 to $750.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, TD Cowen lifted their target price on KLA from $800.00 to $900.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $890.59.

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.