Meritage Portfolio Management decreased its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,542 shares of the semiconductor company's stock after selling 575 shares during the quarter. KLA accounts for approximately 1.1% of Meritage Portfolio Management's holdings, making the stock its 16th biggest holding. Meritage Portfolio Management's holdings in KLA were worth $16,004,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Novem Group grew its holdings in shares of KLA by 19.6% in the 1st quarter. Novem Group now owns 2,288 shares of the semiconductor company's stock worth $1,555,000 after purchasing an additional 375 shares during the last quarter. Private Trust Co. NA grew its holdings in KLA by 23.6% during the 1st quarter. Private Trust Co. NA now owns 1,051 shares of the semiconductor company's stock worth $714,000 after acquiring an additional 201 shares during the last quarter. Pinnacle Financial Partners Inc bought a new stake in KLA during the 1st quarter worth about $277,000. Horizon Financial Services LLC grew its holdings in KLA by 33,900.0% during the 1st quarter. Horizon Financial Services LLC now owns 680 shares of the semiconductor company's stock worth $462,000 after acquiring an additional 678 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in KLA by 89.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 789 shares of the semiconductor company's stock worth $536,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 86.65% of the company's stock.
KLA Trading Down 0.7%
Shares of NASDAQ:KLAC traded down $6.40 during mid-day trading on Friday, reaching $914.70. The stock had a trading volume of 489,375 shares, compared to its average volume of 1,135,561. The firm has a market cap of $120.96 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. The firm has a 50 day simple moving average of $803.85 and a two-hundred day simple moving average of $732.99. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $928.02.
KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. KLA's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the company posted $5.26 EPS. On average, research analysts predict that KLA Corporation will post 31.59 EPS for the current fiscal year.
KLA Increases Dividend
The business also recently announced 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. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.
KLA announced that its Board of Directors has approved a stock 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 repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have commented on KLAC. JPMorgan Chase & Co. decreased their price objective on shares of KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a report on Friday, March 28th. Stifel Nicolaus increased their price objective on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Cowen reissued a "hold" rating on shares of KLA in a report on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $818.06.
Read Our Latest Stock Analysis on KLAC
Insiders Place Their Bets
In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the firm's 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 sale, the chief executive officer directly owned 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer owned 27,779 shares in the company, valued at $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,860 shares of company stock worth $8,196,798. Company insiders own 0.12% of the company's stock.
KLA 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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