QRG Capital Management Inc. Increases Holdings in KLA Corporation $KLAC

Key Points

• QRG Capital Management increased its KLA position by 1,898.9% in the second quarter, reaching 196,295 shares valued at approximately $59.2 million. Institutional investors collectively own 86.65% of KLA’s stock.
• KLA reported quarterly earnings of $1.05 per share, beating estimates by $0.05, while revenue rose 15.2% year over year to $3.66 billion. The company also maintained its $0.23 quarterly dividend, equivalent to a 0.5% annual yield.
• Analysts remain broadly positive, with KLA receiving a “Moderate Buy” consensus rating and an average price target of $222.22 versus a reported share price of $187.86. However, company insiders sold roughly 285,432 shares worth $58.4 million over the past 90 days.

QRG Capital Management Inc. grew its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 1,898.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,295 shares of the semiconductor company's stock after buying an additional 186,475 shares during the quarter. QRG Capital Management Inc.'s holdings in KLA were worth $59,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in KLA by 928.9% during the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company's stock valued at $4,471,832,000 after buying an additional 13,381,153 shares during the period. Bank of New York Mellon Corp bought a new position in KLA in the second quarter worth approximately $2,522,430,000. National Pension Service boosted its stake in shares of KLA by 899.4% during the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company's stock worth $1,096,673,000 after acquiring an additional 3,271,158 shares during the last quarter. NEOS Investment Management LLC grew its position in shares of KLA by 987.0% during the 2nd quarter. NEOS Investment Management LLC now owns 979,371 shares of the semiconductor company's stock valued at $295,486,000 after acquiring an additional 889,269 shares during the period. Finally, Railway Pension Investments Ltd grew its position in shares of KLA by 960.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 926,652 shares of the semiconductor company's stock valued at $279,580,000 after acquiring an additional 839,265 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Virendra A. Kirloskar sold 4,504 shares of KLA stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $195.50, for a total transaction of $880,532.00. Following the sale, the chief accounting officer owned 7,972 shares in the company, valued at $1,558,526. This trade represents a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Wallace sold 87,568 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the completion of the transaction, the chief executive officer directly owned 778,944 shares in the company, valued at $154,970,908.80. This trade represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 285,432 shares of company stock worth $58,369,370 over the last ninety days. 91.48% of the stock is owned by company insiders.

KLA Price Performance

KLA stock traded down $0.46 during mid-day trading on Wednesday, hitting $187.86. The stock had a trading volume of 8,847,958 shares, compared to its average volume of 11,287,454. KLA Corporation has a one year low of $98.10 and a one year high of $307.37. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $245.45 billion, a P/E ratio of 51.23, a P/E/G ratio of 1.63 and a beta of 1.45. The firm's 50 day moving average is $190.22 and its 200 day moving average is $191.34.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.05. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.61 billion. KLA had a return on equity of 87.66% and a net margin of 35.57%.The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. On average, sell-side analysts forecast that KLA Corporation will post 5.42 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 17th. This is a positive change from KLA's previous quarterly dividend of $0.23. KLA's dividend payout ratio is currently 25.07%.

Analyst Ratings Changes

A number of equities analysts recently commented on KLAC shares. JPMorgan Chase & Co. raised their target price on KLA from $200.00 to $238.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. TD Cowen reissued a "buy" rating and set a $260.00 price target (up from $200.00) on shares of KLA in a report on Thursday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $253.00 price objective on shares of KLA in a research note on Wednesday, July 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of KLA in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of KLA in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, KLA currently has an average rating of "Moderate Buy" and a consensus price target of $222.22.

KLA Company Profile

KLA Corporation NASDAQ: KLAC develops process-control and yield-management technologies used by semiconductor and other advanced-electronics manufacturers. Its systems help customers detect, measure and analyze defects and variations during the production of integrated circuits, enabling manufacturers to improve process performance, product quality and manufacturing yields.

The company's portfolio includes wafer and reticle inspection systems, metrology and measurement tools, defect-review and analysis equipment, and software that supports process control and data management.

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