Nisa Investment Advisors LLC Boosts Stake in KLA Corporation (NASDAQ:KLAC)

Nisa Investment Advisors LLC increased its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 14.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 46,206 shares of the semiconductor company's stock after acquiring an additional 6,006 shares during the period. Nisa Investment Advisors LLC's holdings in KLA were worth $31,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Investment Management LLC raised its position in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 36 shares in the last quarter. TCTC Holdings LLC purchased a new position in shares of KLA in the 4th quarter valued at $31,000. Alpine Bank Wealth Management purchased a new position in shares of KLA in the 1st quarter valued at $35,000. Olde Wealth Management LLC purchased a new position in shares of KLA in the 1st quarter valued at $36,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of KLA by 527.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 58 shares during the period. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of KLA 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 transaction, the chief executive officer owned 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the chief financial officer owned 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KLAC. TD Securities lifted their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Wells Fargo & Company reiterated an "equal weight" rating and issued a $920.00 price target (up from $870.00) on shares of KLA in a report on Tuesday. JPMorgan Chase & Co. cut their price target on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group began coverage on KLA in a report on Thursday. They issued a "neutral" rating and a $980.00 price target on the stock. Finally, UBS Group lifted their price target on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $840.33.

KLA Price Performance

KLAC traded down $4.04 during trading on Friday, hitting $924.58. The company's stock had a trading volume of 570,461 shares, compared to its average volume of 1,136,402. 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 $932.17. The business's fifty day simple moving average is $826.84 and its 200 day simple moving average is $742.83. The firm has a market capitalization of $122.27 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 1.73 and a beta of 1.42.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.06 billion for 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 quarterly revenue was up 35.5% compared to the same quarter last year. During the same period last year, the company earned $5.26 earnings per share. On average, equities research analysts forecast that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA declared that its Board of Directors has approved a share buyback 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is 27.63%.

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.