KLA Corporation (NASDAQ:KLAC) Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. increased its stake in KLA Corporation by 2.0%, owning a total of 22,084 shares valued at $15 million as of the latest reporting period.
• KLA Corporation recently declared a quarterly dividend of $1.90 per share, up from the previous $1.70, indicating a strong commitment to returning value to shareholders.
• Wall Street analysts have varied opinions on KLA, with eleven analysts rating the stock as a hold and seven giving it a buy rating, reflecting mixed sentiment despite its recent growth.

Pacer Advisors Inc. lifted its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,084 shares of the semiconductor company's stock after purchasing an additional 427 shares during the period. Pacer Advisors Inc.'s holdings in KLA were worth $15,013,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KLAC. GAMMA Investing LLC raised its holdings in shares of KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after buying an additional 1,672,589 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of KLA by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock worth $750,638,000 after acquiring an additional 300,015 shares during the period. Capital Research Global Investors acquired a new stake in shares of KLA in the fourth quarter worth $187,212,000. Voloridge Investment Management LLC increased its stake in shares of KLA by 421.8% in the fourth quarter. Voloridge Investment Management LLC now owns 325,411 shares of the semiconductor company's stock worth $205,048,000 after acquiring an additional 263,051 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of KLA by 172.2% in the fourth quarter. National Bank of Canada FI now owns 357,305 shares of the semiconductor company's stock worth $225,145,000 after acquiring an additional 226,041 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KLAC. Wells Fargo & Company reiterated an "equal weight" rating and issued a $920.00 price objective (up previously from $870.00) on shares of KLA in a research note on Tuesday, July 8th. Barclays lifted their target price on shares of KLA from $590.00 to $750.00 and gave the company an "equal weight" rating in a research report on Monday. Wall Street Zen downgraded shares of KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft downgraded shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a research note on Tuesday, May 20th. Finally, Cowen reaffirmed a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $858.19.

KLA Stock Up 0.7%

Shares of NASDAQ:KLAC traded up $6.65 during trading on Wednesday, hitting $922.74. 214,362 shares of the company were exchanged, compared to its average volume of 1,155,878. 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 12-month low of $551.33 and a 12-month high of $945.87. The stock has a market capitalization of $122.02 billion, a P/E ratio of 33.54, a PEG ratio of 1.72 and a beta of 1.42. The firm's 50 day moving average price is $867.33 and its 200-day moving average price is $765.12.

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 for the quarter, topping 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 business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the company posted $5.26 EPS. The business's revenue for the quarter was up 35.5% on a year-over-year basis. On average, research analysts predict that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

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

KLA declared that its board has approved a share repurchase program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at KLA

In related news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total value of $34,768.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction dated 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 directly owned 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,860 shares of company stock valued at $8,196,798. Insiders own 0.12% of the company's stock.

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.