KLA Corporation $KLAC Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its holdings in KLA Corporation by 2.5%, now owning 40,308 shares valued at approximately $27.4 million.
• Several hedge funds have increased their stakes in KLA, with Synovus Financial Corp raising its position by 14.3% and ICONIQ Capital LLC by 38.0% in the same quarter.
• Analysts have set a consensus price target of $890.59 for KLA, with some firms projecting price targets as high as $1,070.00.

MetLife Investment Management LLC decreased its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,308 shares of the semiconductor company's stock after selling 1,054 shares during the period. MetLife Investment Management LLC's holdings in KLA were worth $27,401,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KLAC. Alpine Bank Wealth Management acquired a new stake in shares of KLA during the first quarter worth about $35,000. Olde Wealth Management LLC acquired a new stake in shares of KLA during the first quarter worth about $36,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of KLA during the first quarter worth about $37,000. Hazlett Burt & Watson Inc. acquired a new stake in KLA in the first quarter valued at about $45,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in KLA by 527.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Price Performance

Shares of KLAC stock traded up $5.11 during midday trading on Thursday, reaching $894.00. 964,116 shares of the company traded hands, compared to its average volume of 1,143,839. The firm's 50 day simple moving average is $904.12 and its two-hundred day simple moving average is $788.04. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $959.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market cap of $117.97 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.03 and a beta of 1.44.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.53 by $0.85. KLA had a net margin of 33.41% and a return on equity of 112.41%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $6.60 EPS. The company's revenue for the quarter was up 23.6% on a year-over-year basis. KLA has set its Q1 2026 guidance at 7.760-9.300 EPS. On average, equities research analysts expect that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in 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 generally a sign that the company's board of directors believes its stock is undervalued.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th. KLA's payout ratio is currently 25.01%.

Insider Buying and Selling

In related news, EVP Brian Lorig sold 8,049 shares of KLA stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $913.68, for a total transaction of $7,354,210.32. Following the completion of the transaction, the executive vice president directly owned 11,479 shares in the company, valued at $10,488,132.72. The trade was a 41.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 10,801 shares of KLA stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $913.68, for a total value of $9,868,657.68. Following the transaction, the chief executive officer owned 92,818 shares of the company's stock, valued at $84,805,950.24. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,889 shares of company stock worth $17,257,637 in the last ninety days. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on shares of KLA from $770.00 to $922.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of KLA from $900.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Oppenheimer raised their price objective on shares of KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Raymond James Financial restated an "outperform" rating and issued a $950.00 price objective (up previously from $850.00) on shares of KLA in a research report on Friday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of KLA in a research report on Thursday, July 10th. They issued a "neutral" rating and a $980.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $890.59.

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.