Navellier & Associates Inc. lessened its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,284 shares of the semiconductor company's stock after selling 299 shares during the quarter. Navellier & Associates Inc.'s holdings in KLA were worth $1,583,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new stake in KLA during the first quarter worth approximately $35,000. Olde Wealth Management LLC acquired a new position in shares of KLA in the first quarter valued at approximately $36,000. Hazlett Burt & Watson Inc. acquired a new position in shares of KLA in the first quarter valued at approximately $45,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of 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. Finally, HM Payson & Co. increased its holdings in shares of KLA by 270.0% in the first quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.
KLA Stock Down 0.2%
Shares of NASDAQ:KLAC traded down $2.09 during mid-day trading on Friday, hitting $902.09. 807,981 shares of the company traded hands, compared to its average volume of 836,322. The firm has a market cap of $119.29 billion, a P/E ratio of 32.79, a PEG ratio of 1.68 and a beta of 1.42. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. KLA Corporation has a 52-week low of $551.33 and a 52-week high of $945.87. The firm's 50 day simple moving average is $862.09 and its 200 day simple moving average is $761.33.
KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate 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 return on equity of 112.97% and a net margin of 31.99%. The company's revenue was up 35.5% on a year-over-year basis. During the same period last year, the business posted $5.26 EPS. On average, equities analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.
KLA announced that its board has initiated a stock repurchase program on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows 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 leadership believes its shares are undervalued.
KLA Increases Dividend
The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.84%. KLA's payout ratio is currently 27.63%.
Insiders Place Their Bets
In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total transaction of $34,768.50. Following the sale, the chief accounting officer directly owned 2,616 shares in the company, valued at $2,332,164. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value 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 represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,860 shares of company stock worth $8,196,798 in the last three months. 0.12% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. Morgan Stanley increased their price objective on KLA from $868.00 to $916.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Cowen reaffirmed a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Barclays decreased 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. Finally, Oppenheimer increased their price objective on KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $852.56.
View Our Latest Stock Analysis on KLAC
About KLA
(
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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