Global X Japan Co. Ltd. boosted its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,060 shares of the semiconductor company's stock after purchasing an additional 1,113 shares during the quarter. KLA makes up 1.9% of Global X Japan Co. Ltd.'s portfolio, making the stock its 16th biggest holding. Global X Japan Co. Ltd.'s holdings in KLA were worth $16,356,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. J.W. Cole Advisors Inc. grew its stake in shares of KLA by 26.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 375 shares of the semiconductor company's stock valued at $236,000 after buying an additional 78 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of KLA by 17.5% during the fourth quarter. D.A. Davidson & CO. now owns 4,429 shares of the semiconductor company's stock valued at $2,791,000 after purchasing an additional 660 shares during the period. Valley Wealth Managers Inc. boosted its stake in KLA by 28.9% during the fourth quarter. Valley Wealth Managers Inc. now owns 802 shares of the semiconductor company's stock valued at $505,000 after buying an additional 180 shares in the last quarter. Cumberland Partners Ltd boosted its position in shares of KLA by 18.2% in the 4th quarter. Cumberland Partners Ltd now owns 1,300 shares of the semiconductor company's stock valued at $819,000 after purchasing an additional 200 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of KLA by 10.1% during the 4th quarter. Handelsbanken Fonder AB now owns 65,003 shares of the semiconductor company's stock worth $40,960,000 after purchasing an additional 5,975 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.
KLA Stock Performance
KLA stock traded down $21.16 during trading on Friday, hitting $850.00. The stock had a trading volume of 2,347,795 shares, compared to its average volume of 1,127,278. The stock has a market cap of $112.40 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40. The stock's 50 day moving average is $751.83 and its two-hundred day moving average is $714.72. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $914.83. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47.
KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $5.26 earnings per share. The firm's revenue was up 35.5% compared to the same quarter last year. As a group, analysts predict that KLA Corporation will post 31.59 EPS for the current year.
KLA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
KLA Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.
Insider Activity
In other news, 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 completion of the transaction, the chief financial officer now directly owns 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction that occurred on 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 now owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,829 shares of company stock valued at $13,240,166. 0.12% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts have commented on KLAC shares. TD Cowen lifted their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $725.00 target price (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. TD Securities increased their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, UBS Group lifted their price target on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $807.06.
Check Out Our Latest Stock Report on KLA
KLA Company Profile
(
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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