Mission Wealth Management LP Has $537,000 Stock Position in KLA Corporation (NASDAQ:KLAC)

Mission Wealth Management LP trimmed its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 33.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789 shares of the semiconductor company's stock after selling 402 shares during the period. Mission Wealth Management LP's holdings in KLA were worth $537,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KLAC. Vanguard Group Inc. raised its position in shares of KLA by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after buying an additional 85,370 shares in the last quarter. Capital International Investors increased its stake in KLA by 0.4% in the fourth quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock valued at $2,273,118,000 after acquiring an additional 14,397 shares during the last quarter. Geode Capital Management LLC increased its stake in KLA by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock valued at $2,046,472,000 after acquiring an additional 31,608 shares during the last quarter. Norges Bank acquired a new position in KLA during the fourth quarter valued at approximately $1,175,756,000. Finally, Northern Trust Corp lifted its stake in KLA by 13.8% during the fourth quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock worth $1,061,878,000 after purchasing an additional 204,330 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Trading Down 2.4%

Shares of KLAC stock traded down $21.84 during trading hours on Thursday, hitting $871.16. 1,431,425 shares of the company's stock traded hands, compared to its average volume of 1,123,015. The stock has a market cap of $115.20 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. The stock's 50 day simple moving average is $747.54 and its 200 day simple moving average is $713.30. 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 Corporation has a 12 month low of $551.33 and a 12 month high of $914.83.

KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $5.26 EPS. On average, sell-side analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

KLA announced that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is 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 given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is 27.63%.

Insider Buying and Selling

In other news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,829 shares of company stock valued at $13,240,166 over the last ninety days. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Cantor Fitzgerald restated a "neutral" rating and set a $800.00 price objective on shares of KLA in a research report on Thursday, May 1st. Barclays reduced their price objective 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. Cowen reissued a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Finally, Citigroup dropped their target price on shares of KLA from $910.00 to $800.00 and set a "buy" rating for the company in a report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $807.06.

KLA Profile

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.