KLA Corporation (NASDAQ:KLAC) Shares Sold by Concord Wealth Partners

Concord Wealth Partners lowered its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,659 shares of the semiconductor company's stock after selling 289 shares during the period. Concord Wealth Partners' holdings in KLA were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KLAC. Anchor Investment Management LLC raised its position in KLA by 12.0% in the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock worth $88,000 after buying an additional 15 shares during the last quarter. IFC Advisors LLC raised its holdings in KLA by 4.6% during the 1st quarter. IFC Advisors LLC now owns 342 shares of the semiconductor company's stock valued at $232,000 after buying an additional 15 shares during the period. Trust Investment Advisors grew its position in KLA by 1.3% in the 1st quarter. Trust Investment Advisors now owns 1,188 shares of the semiconductor company's stock valued at $808,000 after acquiring an additional 15 shares during the last quarter. Lockerman Financial Group Inc. grew its position in shares of KLA by 3.8% during the 1st quarter. Lockerman Financial Group Inc. now owns 438 shares of the semiconductor company's stock worth $298,000 after buying an additional 16 shares in the last quarter. Finally, Childress Capital Advisors LLC boosted its position in KLA by 3.3% during the first quarter. Childress Capital Advisors LLC now owns 495 shares of the semiconductor company's stock valued at $337,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

KLA Stock Up 0.4%

KLAC traded up $3.59 on Thursday, reaching $937.08. The company's stock had a trading volume of 1,135,315 shares, compared to its average volume of 1,136,631. The stock has a market cap of $123.92 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $942.36. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The business's 50 day moving average is $841.30 and its 200 day moving average is $748.68.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $5.26 earnings per share. As a group, research analysts forecast that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.81%. KLA's dividend payout ratio (DPR) is presently 27.63%.

KLA announced that its Board of Directors has authorized a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on KLAC. Deutsche Bank Aktiengesellschaft downgraded KLA from a "buy" rating to a "hold" rating and set a $790.00 target price for the company. in a report on Tuesday, May 20th. Barclays decreased their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. TD Securities raised their target price on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. TD Cowen raised their target price on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley boosted their target price on KLA from $868.00 to $916.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $840.33.

Insider Transactions at KLA

In other news, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 27,779 shares of the company's stock, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is currently owned by corporate insiders.

About KLA

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.