Oppenheimer Asset Management Inc. boosted its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,230 shares of the semiconductor company's stock after acquiring an additional 958 shares during the period. Oppenheimer Asset Management Inc.'s holdings in KLA were worth $25,309,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Keyvantage Wealth LLC bought a new stake in shares of KLA during the fourth quarter worth approximately $214,000. NBC Securities Inc. acquired a new stake in KLA during the 1st quarter worth $55,000. Wealth Enhancement Advisory Services LLC grew its holdings in KLA by 4.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,221 shares of the semiconductor company's stock worth $15,787,000 after acquiring an additional 1,090 shares during the period. Treasurer of the State of North Carolina raised its position in shares of KLA by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,211 shares of the semiconductor company's stock valued at $45,502,000 after acquiring an additional 659 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of KLA in the 4th quarter valued at $32,178,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.
KLA Stock Up 1.1%
NASDAQ KLAC traded up $9.48 during trading on Thursday, hitting $902.94. The stock had a trading volume of 864,669 shares, compared to its average volume of 1,125,806. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $914.83. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. The company's 50-day moving average price is $773.81 and its two-hundred day moving average price is $722.42. The company has a market capitalization of $119.40 billion, a PE ratio of 32.82, a P/E/G ratio of 1.70 and a beta of 1.40.
KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping the consensus estimate of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The business's quarterly revenue was up 35.5% on a year-over-year basis. During the same period last year, the business earned $5.26 EPS. As a group, sell-side analysts forecast that KLA Corporation will post 31.59 EPS for the current year.
KLA Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, May 19th. This is a boost 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 27.63%.
KLA declared that its board has authorized a stock repurchase program on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their price objective on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. TD Securities boosted their target price on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Barclays cut their price target on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Oppenheimer increased their target price on shares of KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, KLA has an average rating of "Moderate Buy" and an average price target of $815.39.
View Our Latest Stock Report on KLA
Insider Transactions at KLA
In other news, CEO Richard P. Wallace sold 10,802 shares of the company'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 sale, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the transaction, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.
KLA 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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