Ownership Capital B.V. Takes Position in KLA Corporation (NASDAQ:KLAC)

Ownership Capital B.V. purchased a new position in KLA Corporation (NASDAQ:KLAC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,305 shares of the semiconductor company's stock, valued at approximately $53,912,000. KLA accounts for about 2.5% of Ownership Capital B.V.'s investment portfolio, making the stock its 18th largest position. Ownership Capital B.V. owned 0.06% of KLA at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KLAC. TCTC Holdings LLC bought a new position in shares of KLA in the 4th quarter worth about $31,000. Alpine Bank Wealth Management bought a new stake in KLA during the first quarter worth about $35,000. Olde Wealth Management LLC purchased a new stake in KLA in the first quarter worth about $36,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of KLA by 527.3% during 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 in the last quarter. Finally, HM Payson & Co. lifted its holdings in shares of KLA by 270.0% during 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 last quarter. Institutional investors own 86.65% of the company's stock.

KLA Stock Performance

Shares of KLAC opened at $928.62 on Friday. The firm has a market capitalization of $122.80 billion, a P/E ratio of 33.76, a PEG ratio of 1.72 and a beta of 1.42. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. KLA Corporation has a one year low of $551.33 and a one year high of $932.17. The business has a fifty day moving average of $822.31 and a 200 day moving average of $740.94.

KLA (NASDAQ:KLAC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.01 billion. During the same period in the previous year, the business posted $5.26 earnings per share. The firm's quarterly revenue was up 35.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

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

KLA Increases Dividend

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

Insider Activity at KLA

In related news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total value of $34,768.50. Following the completion of the sale, the chief accounting officer directly owned 2,616 shares of the company's stock, valued at approximately $2,332,164. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal 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 shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the transaction, the chief financial officer directly owned 27,779 shares in the company, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,860 shares of company stock worth $8,196,798. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on KLA in a research note on Thursday. They issued a "neutral" rating and a $980.00 price target on the stock. Oppenheimer raised their price target on KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. lowered their price target on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. TD Cowen increased their price objective on shares of KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $840.33.

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.

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