DSG Capital Advisors LLC increased its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 20.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,632 shares of the semiconductor company's stock after purchasing an additional 280 shares during the quarter. DSG Capital Advisors LLC's holdings in KLA were worth $1,109,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in KLAC. Norges Bank bought a new position in shares of KLA in the 4th quarter worth approximately $1,175,756,000. GAMMA Investing LLC raised its stake in shares of KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after buying an additional 1,672,589 shares during the period. Parnassus Investments LLC raised its stake in shares of KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock worth $462,085,000 after buying an additional 580,967 shares during the period. 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 valued at $750,638,000 after buying an additional 300,015 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in shares of KLA during the 4th quarter valued at approximately $187,212,000. Institutional investors own 86.65% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Cowen restated a "hold" rating on shares of KLA in a research note on Thursday, May 1st. TD Cowen raised 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. Stifel Nicolaus upped their price objective on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of KLA in a research report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $818.06.
Read Our Latest Report on KLAC
KLA Trading Up 2.5%
Shares of NASDAQ:KLAC traded up $22.25 on Wednesday, hitting $921.10. 1,051,008 shares of the company's stock were exchanged, compared to its average volume of 1,132,669. The stock has a market capitalization of $121.81 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 1.67 and a beta of 1.42. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $927.22. The business's 50 day simple moving average is $789.66 and its two-hundred day simple moving average is $728.08. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74.
KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 112.97% and a net margin of 31.99%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the business earned $5.26 earnings per share. KLA's quarterly revenue was up 35.5% on a year-over-year basis. Analysts anticipate that KLA Corporation will post 31.59 EPS for the current fiscal year.
KLA Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $1.90 dividend. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Monday, May 19th. KLA's payout ratio is presently 27.63%.
KLA declared that its Board of Directors has approved a share buyback program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Insider Activity
In other news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer owned 78,740 shares of the company's stock, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the transaction, the chief financial officer directly owned 27,779 shares in the company, valued at approximately $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. Insiders own 0.12% of the company's stock.
About KLA
(
Free Report)
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.
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