KLA Corporation $KLAC Stock Position Raised by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its KLA stake by 22.1% in the third quarter, purchasing 11,075 additional shares. Institutional investors collectively own 86.65% of the semiconductor-equipment maker.
• KLA reported quarterly EPS of $1.05, beating estimates by $0.05, while revenue rose 15.2% year over year to $3.66 billion. The company also maintained its quarterly dividend at $0.23 per share.
• Analyst sentiment remains positive, with 19 Buy ratings and 10 Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $221.26, although insiders sold approximately $46.9 million of stock during the quarter.

Apollon Wealth Management LLC increased its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 22.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,291 shares of the semiconductor company's stock after purchasing an additional 11,075 shares during the quarter. Apollon Wealth Management LLC's holdings in KLA were worth $11,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allied Private Wealth LLC purchased a new stake in KLA in the 2nd quarter valued at approximately $27,000. Atomic Invest LLC lifted its stake in shares of KLA by 781.8% in the second quarter. Atomic Invest LLC now owns 97 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 86 shares during the period. Roble Belko & Company Inc lifted its stake in shares of KLA by 2,275.0% in the second quarter. Roble Belko & Company Inc now owns 95 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 91 shares during the period. Carolina Wealth Advisors LLC lifted its stake in shares of KLA by 900.0% in the second quarter. Carolina Wealth Advisors LLC now owns 100 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Cherry Tree Wealth Management LLC boosted its holdings in KLA by 900.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 120 shares of the semiconductor company's stock worth $36,000 after buying an additional 108 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other KLA news, CEO Richard P. Wallace sold 87,568 shares of the stock in a transaction 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 $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 is available through this link. Also, EVP MaryBeth Wilkinson sold 13,802 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $195.50, for a total value of $2,698,291.00. Following the sale, the executive vice president owned 22,110 shares in the company, valued at $4,322,505. This trade represents a 38.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 243,339 shares of company stock worth $46,903,454. Company insiders own 79.39% of the company's stock.

KLA Stock Performance

NASDAQ KLAC opened at $149.21 on Tuesday. KLA Corporation has a fifty-two week low of $107.20 and a fifty-two week high of $307.37. The stock has a market cap of $194.72 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. The business has a fifty day moving average of $182.43 and a 200-day moving average of $181.30. The company has a quick ratio of 2.03, a current ratio of 2.88 and a debt-to-equity ratio of 0.93.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.05. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.94 earnings per share. As a group, analysts predict that KLA Corporation will post 5.43 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.23 per share. The ex-dividend date was Monday, August 17th. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. This is a boost from KLA's previous quarterly dividend of $0.23. KLA's dividend payout ratio (DPR) is 25.07%.

Analyst Ratings Changes

Several research analysts have weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $195.00 target price (down from $220.00) on shares of KLA in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated a "buy" rating and set a $210.00 price target (up from $200.00) on shares of KLA in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of KLA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 16th. Barclays reissued an "overweight" rating and set a $225.00 price target on shares of KLA in a research note on Monday, July 20th. Finally, Susquehanna set a $215.00 price target on KLA and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Nineteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, KLA currently has an average rating of "Moderate Buy" and a consensus price target of $221.26.

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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