KLA Corporation $KLAC Stock Sold by WASHINGTON TRUST Co

Key Points

• WASHINGTON TRUST Co reduced its KLA position by 4% in the third quarter, selling 9,818 shares and retaining 234,501 shares valued at approximately $45.7 million. Institutional investors collectively own 86.65% of KLA.
• KLA insiders sold 243,339 shares worth about $46.9 million over the past three months, including sizable sales by two executives.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $221.26. KLA’s latest quarterly results exceeded estimates, with revenue rising 15.2% year over year to $3.66 billion.

WASHINGTON TRUST Co cut its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 234,501 shares of the semiconductor company's stock after selling 9,818 shares during the period. KLA comprises approximately 1.4% of WASHINGTON TRUST Co's investment portfolio, making the stock its 20th biggest holding. WASHINGTON TRUST Co's holdings in KLA were worth $45,711,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Inspire Investing LLC increased its stake in KLA by 17.3% in the 3rd quarter. Inspire Investing LLC now owns 272,985 shares of the semiconductor company's stock valued at $53,213,000 after buying an additional 40,314 shares during the last quarter. XXI Wealth LLC boosted its stake in shares of KLA by 3.7% during the 3rd quarter. XXI Wealth LLC now owns 2,577 shares of the semiconductor company's stock worth $502,000 after buying an additional 92 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of KLA by 0.5% during the 3rd quarter. Yousif Capital Management LLC now owns 133,142 shares of the semiconductor company's stock worth $25,953,000 after buying an additional 616 shares during the last quarter. BIP Wealth LLC boosted its stake in shares of KLA by 9.5% during the 3rd quarter. BIP Wealth LLC now owns 4,457 shares of the semiconductor company's stock worth $869,000 after buying an additional 388 shares during the last quarter. Finally, River Street Advisors LLC grew its holdings in shares of KLA by 1.8% in the 3rd quarter. River Street Advisors LLC now owns 20,694 shares of the semiconductor company's stock valued at $4,034,000 after acquiring an additional 358 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Insiders Place Their Bets

In other news, CAO Virendra Kirloskar sold 4,504 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $195.50, for a total value of $880,532.00. Following the completion of the sale, the chief accounting officer directly owned 7,972 shares of the company's stock, valued at $1,558,526. This trade represents a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP MaryBeth Wilkinson sold 13,802 shares of KLA stock in a transaction that occurred 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 transaction, the executive vice president owned 22,110 shares of the company's stock, valued at $4,322,505. This represents a 38.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 243,339 shares of company stock worth $46,903,454 in the last three months. 79.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on KLAC shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of KLA in a research report on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $325.00 price target on shares of KLA in a research report on Wednesday, July 29th. Royal Bank Of Canada reissued a "sector perform" rating and set a $180.00 price target (up from $170.00) on shares of KLA in a research report on Wednesday, July 29th. Wells Fargo & Company set a $245.00 price target on KLA and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $225.00 price target on shares of KLA in a research report on Wednesday, July 29th. Nineteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.26.

KLA Stock Performance

Shares of KLAC traded down $2.22 during midday trading on Friday, reaching $145.61. The stock had a trading volume of 10,431,727 shares, compared to its average volume of 10,050,481. The firm has a market cap of $190.02 billion, a PE ratio of 39.71, a P/E/G ratio of 1.31 and a beta of 1.45. The firm has a 50 day simple moving average of $182.06 and a 200-day simple moving average of $196.95. KLA Corporation has a one year low of $107.20 and a one year high of $307.37. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93.

KLA (NASDAQ:KLAC - Get Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.05. KLA had a net margin of 35.57% and a return on equity of 87.66%. The company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period in the prior year, the firm earned $0.94 EPS. KLA's quarterly revenue was up 15.2% compared to the same quarter last year. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. As a group, sell-side analysts anticipate that KLA Corporation will post 5.43 EPS for the current year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.23 per share. 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. The ex-dividend date of this dividend was Monday, August 17th. KLA's dividend payout ratio (DPR) is presently 25.07%.

KLA 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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