KLA Corporation (NASDAQ:KLAC) Shares Acquired by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,105 shares of the semiconductor company's stock after purchasing an additional 452 shares during the period. Silver Oak Securities Incorporated's holdings in KLA were worth $1,418,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its holdings in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new position in KLA during the 4th quarter worth $31,000. Alpine Bank Wealth Management acquired a new position in KLA during the 1st quarter worth $35,000. Fairfield Financial Advisors LTD grew its holdings in KLA by 160.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 40 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of KLA by 527.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after buying an additional 58 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KLAC has been the subject of several research reports. Cowen reaffirmed a "hold" rating on shares of KLA in a report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $725.00 price target (down from $875.00) on shares of KLA in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. UBS Group boosted their price target on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, TD Securities boosted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $818.06.

KLA Stock Down 0.7%

KLAC opened at $914.70 on Friday. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $928.02. The firm's 50-day simple moving average is $803.85 and its 200-day simple moving average is $732.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. The firm has a market cap of $120.96 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 1.72 and a beta of 1.42.

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

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a yield of 0.83%. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is currently 27.63%.

KLA announced that its Board of Directors has authorized a share repurchase 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 of directors believes its stock is undervalued.

Insiders Place Their Bets

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer directly owned 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the transaction, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,860 shares of company stock valued at $8,196,798 in the last 90 days. 0.12% of the stock is currently owned by insiders.

KLA 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.

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