Signaturefd LLC Purchases 339 Shares of KLA Corporation (NASDAQ:KLAC)

Signaturefd LLC lifted its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 17.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,256 shares of the semiconductor company's stock after purchasing an additional 339 shares during the period. Signaturefd LLC's holdings in KLA were worth $1,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in KLAC. Edgestream Partners L.P. grew its stake in shares of KLA by 1,161.3% during the first quarter. Edgestream Partners L.P. now owns 13,105 shares of the semiconductor company's stock valued at $8,909,000 after purchasing an additional 12,066 shares during the last quarter. Leelyn Smith LLC boosted its stake in KLA by 1.1% in the first quarter. Leelyn Smith LLC now owns 6,853 shares of the semiconductor company's stock valued at $4,658,000 after acquiring an additional 76 shares during the last quarter. Cutter & CO Brokerage Inc. grew its holdings in KLA by 78.8% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 631 shares of the semiconductor company's stock worth $430,000 after acquiring an additional 278 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of KLA in the 1st quarter valued at $6,776,000. Finally, Key Financial Inc boosted its position in shares of KLA by 69.4% in the 1st quarter. Key Financial Inc now owns 122 shares of the semiconductor company's stock worth $83,000 after purchasing an additional 50 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a research note on Tuesday, May 20th. The Goldman Sachs Group initiated coverage on shares of KLA in a research note on Thursday, July 10th. They issued a "neutral" rating and a $980.00 target price for the company. Wells Fargo & Company reissued an "equal weight" rating and issued a $920.00 price target (up previously from $870.00) on shares of KLA in a report on Tuesday, July 8th. Barclays reduced their target price on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $840.33.

KLA Stock Up 0.7%

KLAC stock traded up $6.82 during mid-day trading on Thursday, reaching $940.31. The company had a trading volume of 777,678 shares, compared to its average volume of 1,137,648. The company has a market capitalization of $124.35 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 1.74 and a beta of 1.42. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $942.36. The stock has a 50 day simple moving average of $841.30 and a two-hundred day simple moving average of $748.68. 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 released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the business earned $5.26 earnings per share. The firm's revenue was up 35.5% on a year-over-year basis. As a group, equities analysts predict that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid 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 yield of 0.81%. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

KLA announced that its board has initiated a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer owned 27,779 shares in the company, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,860 shares of company stock worth $8,196,798. Company insiders own 0.12% of the company's stock.

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.