Paradiem LLC Lowers Holdings in KLA Corporation (NASDAQ:KLAC)

Paradiem LLC lessened its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 12.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,708 shares of the semiconductor company's stock after selling 1,197 shares during the quarter. KLA accounts for 1.6% of Paradiem LLC's investment portfolio, making the stock its 27th largest position. Paradiem LLC's holdings in KLA were worth $5,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in KLA by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after purchasing an additional 85,370 shares during the period. Capital International Investors lifted its position in shares of KLA by 0.4% during the 4th quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock valued at $2,273,118,000 after buying an additional 14,397 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of KLA by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock valued at $2,046,472,000 after buying an additional 31,608 shares during the last quarter. Norges Bank purchased a new position in shares of KLA during the 4th quarter valued at $1,175,756,000. Finally, Northern Trust Corp lifted its position in shares of KLA by 13.8% during the 4th quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock valued at $1,061,878,000 after buying an additional 204,330 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KLAC. Needham & Company LLC reaffirmed a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a research report on Tuesday, May 20th. Cowen reaffirmed a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $800.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, KLA presently has an average rating of "Moderate Buy" and a consensus target price of $807.06.

KLA Trading Down 2.4%

KLAC traded down $21.16 on Friday, hitting $850.00. 2,347,795 shares of the company were exchanged, compared to its average volume of 1,123,792. The firm has a fifty day simple moving average of $755.43 and a two-hundred day simple moving average of $716.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $914.83. The stock has a market capitalization of $112.40 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data 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. The firm 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%. The business'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 EPS. Sell-side analysts expect that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a $1.90 dividend. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is currently 27.63%.

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

Insider Transactions at KLA

In other news, 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 sale, the chief financial officer now directly owns 27,779 shares in the company, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares of the company's stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is currently owned by insiders.

KLA Company 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.