KLA Corporation $KLAC Stock: Kestra Advisory Services LLC Grows Position

Key Points

• Kestra Advisory Services increased its KLA stake by 18.8% in the third quarter, adding 15,774 shares to bring its holding to 99,550 shares, valued at about $19.4 million. Other institutional investors also expanded or initiated positions.
• KLA reported quarterly earnings of $1.22 per share, beating the $1.18 consensus estimate, while revenue of $4.14 billion rose 28.9% year over year. The company also declared a quarterly dividend of $0.23 per share.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $220.35; their views ranged from Buy ratings to Hold ratings, and some firms lowered their targets.

Kestra Advisory Services LLC increased its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,550 shares of the semiconductor company's stock after buying an additional 15,774 shares during the period. Kestra Advisory Services LLC's holdings in KLA were worth $19,405,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in KLA by 928.9% in the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company's stock valued at $4,471,832,000 after purchasing an additional 13,381,153 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of KLA during the second quarter valued at about $2,522,430,000. Assenagon Asset Management S.A. lifted its position in shares of KLA by 239.3% during the third 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 buying an additional 3,959,927 shares during the last quarter. National Pension Service lifted its position in shares of KLA by 899.4% during the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company's stock valued at $1,096,673,000 after buying an additional 3,271,158 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of KLA in the 3rd quarter valued at about $377,898,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Trading Up 6.7%

KLA stock opened at $138.49 on Friday. The stock has a 50-day moving average of $174.83 and a two-hundred day moving average of $181.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.86 and a current ratio of 2.76. KLA Corporation has a one year low of $107.20 and a one year high of $307.37. The stock has a market cap of $180.45 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.

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

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 16th. KLA's dividend payout ratio (DPR) is presently 23.00%.

Key Headlines Impacting KLA

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 87,568 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 in the company, valued at approximately $154,970,908.80. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $16,167,746.53. This represents a 43.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,173 shares of company stock valued at $42,201,914 over the last ninety days. 79.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of KLA from $238.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, October 29th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $180.00 price objective (up from $170.00) on shares of KLA in a research note on Wednesday, July 29th. Susquehanna decreased their target price on shares of KLA from $215.00 to $190.00 and set a "neutral" rating for the company in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $195.00 target price (down from $220.00) on shares of KLA in a research note on Wednesday, July 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $200.00 target price (down from $270.00) on shares of KLA in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $220.35.

KLA Profile

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company's products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.

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