GFG Capital LLC Has $5.40 Million Holdings in KLA Corporation (NASDAQ:KLAC)

GFG Capital LLC lessened its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,940 shares of the semiconductor company's stock after selling 866 shares during the quarter. KLA comprises approximately 1.6% of GFG Capital LLC's holdings, making the stock its 18th largest position. GFG Capital LLC's holdings in KLA were worth $5,397,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of KLA during the 4th quarter worth about $1,175,756,000. GAMMA Investing LLC lifted its position in shares of KLA by 95,141.6% during the 1st quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after purchasing an additional 1,672,589 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of KLA by 381.3% during the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after purchasing an additional 580,967 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of KLA by 33.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock worth $750,638,000 after purchasing an additional 300,015 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in KLA in the 4th quarter valued at approximately $187,212,000. Institutional investors own 86.65% of the company's stock.

Insider Buying and Selling at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total value of $34,768.50. Following the transaction, the chief accounting officer directly owned 2,616 shares in the company, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the transaction, the chief financial officer owned 27,779 shares in the company, valued at $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,860 shares of company stock worth $8,196,798. Insiders own 0.12% of the company's stock.

KLA Price Performance

NASDAQ KLAC traded up $5.27 during trading hours on Thursday, reaching $928.45. 370,556 shares of the company's stock were exchanged, compared to its average volume of 1,185,999. The stock has a market cap of $122.78 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. KLA Corporation has a one year low of $551.33 and a one year high of $932.17. The firm has a fifty day moving average of $817.26 and a 200-day moving average of $739.01. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. KLA had a return on equity of 112.97% and a net margin of 31.99%. KLA's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period in the prior year, the company earned $5.26 EPS. On average, equities research analysts predict that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA declared that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 0.82%. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio (DPR) is presently 27.63%.

Analysts Set New Price Targets

KLAC has been the subject of several recent research reports. TD Cowen upped their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. TD Securities upped their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Wall Street Zen cut KLA from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Barclays cut their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $840.33.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.