KLA Corporation (NASDAQ:KLAC) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC cut its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,888 shares of the semiconductor company's stock after selling 376 shares during the quarter. OneDigital Investment Advisors LLC's holdings in KLA were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KLAC. Tortoise Investment Management LLC lifted its holdings in KLA by 300.0% during the 4th quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock worth $30,000 after buying an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in KLA during the 4th quarter worth approximately $31,000. Alpine Bank Wealth Management acquired a new stake in KLA during the 1st quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in KLA by 527.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock worth $47,000 after buying an additional 58 shares in the last quarter. Finally, Hurley Capital LLC acquired a new stake in KLA during the 4th quarter worth approximately $51,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

KLA Price Performance

Shares of KLAC stock traded down $11.96 during midday trading on Monday, reaching $912.62. 901,146 shares of the company traded hands, compared to its average volume of 1,134,623. The firm's 50 day simple moving average is $803.85 and its two-hundred day simple moving average is $734.48. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $928.02. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The firm has a market cap of $120.68 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $5.26 EPS. The company's revenue for the quarter was up 35.5% on a year-over-year basis. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $1.90 per share. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, May 19th. KLA's payout ratio is currently 27.63%.

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 completion of the transaction, the chief executive officer directly owned 78,740 shares in the company, valued at $53,803,042. The trade was a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 of the company's stock, 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 sold 11,860 shares of company stock worth $8,196,798 in the last ninety days. Insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

KLAC has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of KLA from $750.00 to $770.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Oppenheimer lifted their price target on shares of KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. TD Securities lifted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a research note on Tuesday, May 20th. Finally, TD Cowen lifted their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $831.11.

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.