Legacy Financial Advisors Inc. Grows Position in KLA Corporation $KLAC

Key Points

• Legacy Financial Advisors increased its KLA position by 967.4% in the second quarter, bringing its holdings to 8,048 shares valued at approximately $2.43 million. Institutional investors collectively own 86.65% of KLA.
• KLA reported quarterly earnings of $1.05 per share, exceeding estimates of $1.00, while revenue rose 15.2% year over year to $3.66 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $223.70.
• KLA insiders sold 258,533 shares worth nearly $56 million over the past 90 days, including substantial sales by the CEO and chief accounting officer. The stock opened at $175.45, well below its 52-week high of $307.37.

Legacy Financial Advisors Inc. lifted its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 967.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,048 shares of the semiconductor company's stock after purchasing an additional 7,294 shares during the period. Legacy Financial Advisors Inc.'s holdings in KLA were worth $2,428,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC grew its holdings in KLA by 6.8% in the 1st quarter. McIlrath & Eck LLC now owns 94 shares of the semiconductor company's stock worth $139,000 after acquiring an additional 6 shares during the last quarter. Motco raised its stake in shares of KLA by 1.8% during the fourth quarter. Motco now owns 405 shares of the semiconductor company's stock valued at $492,000 after acquiring an additional 7 shares during the last quarter. Nemes Rush Group LLC boosted its holdings in shares of KLA by 17.1% during the fourth quarter. Nemes Rush Group LLC now owns 48 shares of the semiconductor company's stock worth $58,000 after purchasing an additional 7 shares during the period. SouthState Bank Corp grew its stake in shares of KLA by 6.7% in the fourth quarter. SouthState Bank Corp now owns 111 shares of the semiconductor company's stock worth $135,000 after purchasing an additional 7 shares during the last quarter. Finally, Root Financial Partners LLC grew its stake in shares of KLA by 1.3% in the fourth quarter. Root Financial Partners LLC now owns 796 shares of the semiconductor company's stock worth $967,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Insider Transactions at KLA

In related news, CEO Richard P. Wallace sold 87,568 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the sale, the chief executive officer owned 778,944 shares of the company's stock, valued at $154,970,908.80. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Virendra A. Kirloskar sold 4,504 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $195.50, for a total transaction of $880,532.00. Following the completion of the sale, the chief accounting officer owned 7,972 shares in the company, valued at approximately $1,558,526. This trade represents a 36.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 258,533 shares of company stock worth $55,977,470. 91.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KLAC has been the subject of several research analyst reports. Susquehanna set a $215.00 price objective on KLA and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 target price on shares of KLA in a report on Wednesday, July 29th. Oppenheimer reaffirmed an "outperform" rating and issued a $260.00 price target (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of KLA in a report on Friday, July 31st. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $230.00 price objective on shares of KLA in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.70.

KLA Stock Down 0.1%

Shares of NASDAQ:KLAC opened at $175.45 on Tuesday. KLA Corporation has a 52-week low of $83.22 and a 52-week high of $307.37. The firm has a market capitalization of $229.23 billion, a P/E ratio of 47.85, a P/E/G ratio of 1.35 and a beta of 1.45. The stock has a 50 day moving average price of $211.31 and a 200-day moving average price of $188.11. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.03 and a current ratio of 2.88.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.05. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.61 billion. KLA had a return on equity of 87.66% and a net margin of 35.57%.The firm's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. As a group, equities research analysts anticipate that KLA Corporation will post 5.42 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.23 per share. This is a boost from KLA's previous quarterly dividend of $0.23. The ex-dividend date is Monday, August 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. KLA's dividend payout ratio (DPR) is presently 25.07%.

KLA Profile

KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA's offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.

Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.

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