Penserra Capital Management LLC Has $17.58 Million Stock Position in KLA Corporation (NASDAQ:KLAC)

Penserra Capital Management LLC grew its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 37.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,859 shares of the semiconductor company's stock after purchasing an additional 7,021 shares during the period. Penserra Capital Management LLC's holdings in KLA were worth $17,577,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of KLA during the 4th quarter valued at about $1,175,756,000. GAMMA Investing LLC boosted its stake in KLA by 95,141.6% during 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 in the last quarter. Parnassus Investments LLC boosted its position in shares of KLA by 381.3% during the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company's stock valued at $462,085,000 after acquiring an additional 580,967 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KLA by 33.7% in the 4th 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 valued at $750,638,000 after buying an additional 300,015 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in KLA in the fourth quarter valued at about $187,212,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Trading Down 0.7%

NASDAQ KLAC traded down $6.40 during trading hours on Friday, hitting $914.70. The company's stock had a trading volume of 489,375 shares, compared to its average volume of 1,135,561. The stock has a fifty day moving average of $803.85 and a 200 day moving average of $733.70. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $928.02. The firm has a market capitalization of $120.96 billion, a P/E ratio of 33.25, a PEG ratio of 1.72 and a beta of 1.42. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47.

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, beating analysts' consensus estimates of $8.08 by $0.33. KLA had a return on equity of 112.97% and a net margin of 31.99%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the business posted $5.26 EPS. The firm's quarterly revenue was up 35.5% on a year-over-year basis. Equities research analysts forecast that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

KLA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $1.90 dividend. The ex-dividend date was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.83%. KLA's dividend payout ratio (DPR) is 27.63%.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 10,802 shares of KLA 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 sale, the chief executive officer directly owned 78,740 shares in the company, valued at $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction 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 completion of the sale, the chief financial officer owned 27,779 shares in the company, valued at $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. In the last three months, insiders have sold 11,860 shares of company stock worth $8,196,798. Company insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KLAC shares. TD Cowen boosted their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $830.00 target price on shares of KLA in a report on Thursday, May 1st. Citigroup reduced their price objective on KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, TD Securities boosted their price objective on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $818.06.

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.