KLA Corporation $KLAC Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its KLA holding by 34.3% in the third quarter, selling 434,191 shares; it retained 830,530 shares valued at about $166.4 million.
• KLA beat quarterly estimates with EPS of $1.22 versus $1.18 expected, while revenue rose 28.9% year over year to $4.14 billion. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $220.35.
• KLA declared a quarterly dividend of $0.23 per share, payable December 1 to shareholders of record November 16.

Allspring Global Investments Holdings LLC lowered its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 34.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 830,530 shares of the semiconductor company's stock after selling 434,191 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of KLA worth $166,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KLAC. McIlrath & Eck LLC lifted its position in shares of KLA by 6.8% during the 1st quarter. McIlrath & Eck LLC now owns 94 shares of the semiconductor company's stock worth $139,000 after buying an additional 6 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of KLA by 36.4% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 16 shares during the period. Capital Advisors Wealth Management LLC lifted its holdings in shares of KLA by 2.2% during the third quarter. Capital Advisors Wealth Management LLC now owns 2,656 shares of the semiconductor company's stock valued at $518,000 after acquiring an additional 58 shares during the period. Venture Visionary Partners LLC boosted its stake in shares of KLA by 3.7% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,923 shares of the semiconductor company's stock valued at $375,000 after purchasing an additional 68 shares in the last quarter. Finally, Bullock Wealth Management Group boosted its stake in shares of KLA by 3.1% in the 3rd quarter. Bullock Wealth Management Group now owns 2,365 shares of the semiconductor company's stock valued at $474,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Key KLA News

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

Wall Street Analysts Forecast Growth

KLAC has been the topic of several analyst reports. Truist Financial set a $225.00 target price on shares of KLA in a report on Thursday, October 29th. UBS Group reissued a "neutral" rating and set a $180.00 price target (down from $190.00) on shares of KLA in a report on Thursday, October 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. Citigroup decreased their price objective on shares of KLA from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th. Finally, Zacks Research raised shares of KLA from a "hold" rating to a "strong-buy" rating in a report on Friday, October 30th. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $220.35.

Insider Activity at KLA

In related news, CEO Richard Wallace sold 72,019 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total value of $12,378,625.72. Following the completion of the sale, the chief executive officer owned 706,925 shares of the company's stock, valued at $121,506,269. This trade represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the business's stock in a transaction that occurred 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 owned 77,681 shares of the company's stock, valued at $16,167,746.53. This trade represents a 43.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,173 shares of company stock worth $42,201,914 over the last three months. 79.39% of the stock is owned by insiders.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $138.49 on Monday. KLA Corporation has a twelve month low of $107.20 and a twelve month high of $307.37. The firm 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. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.86 and a current ratio of 2.76. The business has a fifty day moving average of $174.83 and a 200-day moving average of $181.68.

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 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 analysts' expectations of $4.04 billion. During the same period in the previous year, the business posted $8.47 earnings per share. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities research analysts predict that KLA Corporation will post 5.73 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a dividend of $0.23 per share. 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 is 23.00%.

About KLA

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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