KLA Corporation $KLAC Stock Sold by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services cut its KLA stake by 9.1% in the third quarter, selling 28,549 shares. It retained 284,233 shares, valued at about $55.4 million.
• KLA reported quarterly EPS of $1.22, beating the $1.18 consensus, and revenue of $4.14 billion, up 28.9% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $220.35. Company insiders also sold 219,173 shares worth about $42.2 million over the quarter.

Commonwealth Equity Services LLC decreased its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,233 shares of the semiconductor company's stock after selling 28,549 shares during the quarter. Commonwealth Equity Services LLC's holdings in KLA were worth $55,405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KLAC. Allied Private Wealth LLC acquired a new stake in shares of KLA during the 2nd quarter worth about $27,000. Atomic Invest LLC raised its holdings in KLA by 781.8% in the 2nd quarter. Atomic Invest LLC now owns 97 shares of the semiconductor company's stock valued at $27,000 after buying an additional 86 shares during the period. Roble Belko & Company Inc lifted its position in 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 buying an additional 91 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in 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 buying an additional 90 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its stake 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 during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Buying and Selling

In other KLA 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Lorig sold 59,586 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were 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 $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. Over the last quarter, insiders have sold 219,173 shares of company stock worth $42,201,914. 79.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KLAC. Oppenheimer reiterated an "outperform" rating and set a $260.00 price target (up from $200.00) on shares of KLA in a research report on Thursday, July 16th. Royal Bank Of Canada restated a "sector perform" rating and issued a $180.00 price objective (up from $170.00) on shares of KLA in a report on Wednesday, July 29th. Cantor Fitzgerald set a $240.00 price objective on shares of KLA and gave the stock an "overweight" rating in a research report on Thursday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $200.00 price objective (down from $270.00) on shares of KLA in a research report on Thursday, October 29th. Finally, Piper Sandler set a $425.00 target price on shares of KLA in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $220.35.

KLA Stock Performance

NASDAQ KLAC opened at $138.49 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86. The company has a market cap of $180.45 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.13 and a beta of 1.49. The stock has a 50-day moving average of $174.83 and a two-hundred day moving average of $181.68. KLA Corporation has a 1-year low of $107.20 and a 1-year high of $307.37.

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 (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. KLA had a net margin of 36.25% and a return on equity of 89.30%. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $4.04 billion. During the same quarter in the prior year, the company earned $8.47 earnings per share. The business's quarterly revenue was up 28.9% on a year-over-year basis. As a group, analysts anticipate that KLA Corporation will post 5.73 EPS for the current year.

KLA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, November 16th. This represents a $0.92 dividend on an annualized basis and a yield of 0.7%. KLA's dividend payout ratio is 23.00%.

KLA News Roundup

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

KLA Company 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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