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Mutual of America Capital Management LLC Trims Stock Holdings in KLA Corporation (NASDAQ:KLAC)

KLA logo with Computer and Technology background

Mutual of America Capital Management LLC lessened its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,452 shares of the semiconductor company's stock after selling 569 shares during the quarter. Mutual of America Capital Management LLC's holdings in KLA were worth $10,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in KLA by 81.9% in the 4th quarter. Proficio Capital Partners LLC now owns 544 shares of the semiconductor company's stock worth $342,000 after purchasing an additional 245 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in KLA by 29.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,661 shares of the semiconductor company's stock valued at $1,677,000 after purchasing an additional 603 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of KLA by 8.8% in the 4th quarter. Farther Finance Advisors LLC now owns 891 shares of the semiconductor company's stock worth $561,000 after acquiring an additional 72 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of KLA by 0.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,051 shares of the semiconductor company's stock worth $3,813,000 after acquiring an additional 26 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of KLA by 6.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 32,388 shares of the semiconductor company's stock worth $20,409,000 after acquiring an additional 2,011 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Trading Up 1.6%

NASDAQ KLAC traded up $14.69 during trading on Tuesday, hitting $936.53. The stock had a trading volume of 746,177 shares, compared to its average volume of 1,136,489. The company has a market capitalization of $123.85 billion, a PE ratio of 34.04, a PEG ratio of 1.72 and a beta of 1.42. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The firm has a 50 day moving average price of $831.41 and a 200 day moving average price of $746.07. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $942.50.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 112.97% and a net margin of 31.99%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $5.26 earnings per share. The business's revenue for the quarter was up 35.5% on a year-over-year basis. As a group, equities research analysts forecast that KLA Corporation will post 31.59 earnings per share for the current year.

KLA announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a boost 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 yield of 0.81%. KLA's payout ratio is presently 27.63%.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the completion of the sale, the chief executive officer owned 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Virendra A. Kirloskar sold 39 shares of the business's 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 sale, the chief accounting officer owned 2,616 shares of the company's stock, valued at approximately $2,332,164. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,860 shares of company stock worth $8,196,798 over the last 90 days. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group raised their target price on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Oppenheimer raised their target price on KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group initiated coverage on KLA in a research report on Thursday, July 10th. They set a "neutral" rating and a $980.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, TD Securities raised their price objective on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $840.33.

Check Out Our Latest Stock Report on KLA

KLA Company 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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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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