KLA Corporation (NASDAQ:KLAC) Shares Sold by Robocap Asset Management Ltd

Robocap Asset Management Ltd lowered its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 9.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,097 shares of the semiconductor company's stock after selling 731 shares during the period. KLA accounts for approximately 3.6% of Robocap Asset Management Ltd's portfolio, making the stock its 15th biggest holding. Robocap Asset Management Ltd's holdings in KLA were worth $4,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Capital LLC lifted its holdings in KLA by 27.5% in the 1st quarter. Sierra Capital LLC now owns 528 shares of the semiconductor company's stock valued at $359,000 after purchasing an additional 114 shares in the last quarter. Sigma Investment Counselors Inc. lifted its holdings in KLA by 49.7% in the 1st quarter. Sigma Investment Counselors Inc. now owns 3,556 shares of the semiconductor company's stock valued at $2,417,000 after purchasing an additional 1,181 shares in the last quarter. Bank Hapoalim BM lifted its holdings in KLA by 5.8% in the 1st quarter. Bank Hapoalim BM now owns 15,276 shares of the semiconductor company's stock valued at $10,385,000 after purchasing an additional 844 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of KLA by 30.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,212 shares of the semiconductor company's stock worth $5,583,000 after acquiring an additional 1,905 shares during the period. Finally, Alpha Cubed Investments LLC raised its holdings in shares of KLA by 248.7% during the 1st quarter. Alpha Cubed Investments LLC now owns 2,723 shares of the semiconductor company's stock worth $1,851,000 after acquiring an additional 1,942 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Price Performance

KLAC stock traded up $5.44 on Thursday, reaching $928.62. 795,013 shares of the company's stock were exchanged, compared to its average volume of 1,135,734. The stock has a fifty day moving average of $817.26 and a 200-day moving average of $739.01. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $932.24. The firm has a market cap of $122.80 billion, a PE ratio of 33.76, a P/E/G ratio of 1.71 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 announced 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. KLA had a return on equity of 112.97% and a net margin of 31.99%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $5.26 earnings per share. KLA's quarterly revenue was up 35.5% on a year-over-year basis. As a group, equities analysts predict that KLA Corporation will post 31.59 EPS 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 issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is currently 27.63%.

KLA announced that its board has authorized a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

KLAC has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded KLA from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup reissued a "buy" rating and set a $1,035.00 price objective (up from $835.00) on shares of KLA in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price target on shares of KLA in a report on Thursday, May 1st. Finally, Cowen reaffirmed a "hold" rating on shares of KLA in a report on Thursday, May 1st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $840.33.

Insider Buying and Selling

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer owned 78,740 shares of the company's stock, valued at approximately $53,803,042. This 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 accessible through the SEC website. Also, CAO Virendra A. Kirloskar sold 39 shares of the company's stock in a transaction 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 in the company, valued at $2,332,164. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,860 shares of company stock valued at $8,196,798 over the last quarter. Company insiders own 0.12% of the company's stock.

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.