400 Shares in KLA Corporation (NASDAQ:KLAC) Purchased by Spinnaker Trust

Spinnaker Trust acquired a new stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 400 shares of the semiconductor company's stock, valued at approximately $272,000.

Several other hedge funds also recently bought and sold shares of the business. Monument Capital Management bought a new position in KLA in the 1st quarter worth about $204,000. Amalgamated Bank raised its stake in shares of KLA by 1.6% during the first quarter. Amalgamated Bank now owns 28,532 shares of the semiconductor company's stock valued at $19,396,000 after acquiring an additional 450 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of KLA by 3.0% in the first quarter. Root Financial Partners LLC now owns 732 shares of the semiconductor company's stock valued at $498,000 after purchasing an additional 21 shares during the period. Sovran Advisors LLC grew its stake in KLA by 54.4% in the first quarter. Sovran Advisors LLC now owns 548 shares of the semiconductor company's stock worth $348,000 after purchasing an additional 193 shares in the last quarter. Finally, Little House Capital LLC increased its holdings in KLA by 16.3% during the 1st quarter. Little House Capital LLC now owns 1,806 shares of the semiconductor company's stock worth $1,228,000 after purchasing an additional 253 shares during the period. Institutional investors own 86.65% of the company's stock.

Insider Activity

In related 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer directly owned 27,779 shares in the company, valued at approximately $21,291,492.34. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

KLA Stock Up 0.3%

KLAC traded up $3.11 during trading on Tuesday, hitting $898.85. The stock had a trading volume of 1,079,103 shares, compared to its average volume of 1,128,022. The stock has a 50 day simple moving average of $784.41 and a two-hundred day simple moving average of $726.89. 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 twelve month low of $551.33 and a twelve month high of $914.83. The company has a market capitalization of $118.86 billion, a PE ratio of 32.67, a PEG ratio of 1.69 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the firm earned $5.26 EPS. The business's quarterly revenue 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 year.

KLA declared that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a positive change from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.85%. KLA's payout ratio is presently 27.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group upped their target price on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Oppenheimer lifted their price objective on KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a research note on Friday, March 28th. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. Finally, Citigroup reduced their price target on shares of KLA from $910.00 to $800.00 and set a "buy" rating for the company in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.