Summit Financial LLC Acquires 457 Shares of KLA Corporation $KLAC

Key Points

• Summit Financial LLC has significantly increased its holdings in KLA Corporation, acquiring an additional 457 shares, totaling 912 shares valued at approximately $620,000.
• KLA Corporation's quarterly earnings exceeded analysts' expectations, reporting $9.38 earnings per share and $3.17 billion in revenue, demonstrating a 23.6% year-over-year growth.
• The company announced a quarterly dividend of $1.90 per share, with an ex-dividend date set for August 18th, reflecting a commitment to returning value to shareholders.

Summit Financial LLC boosted its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 100.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 912 shares of the semiconductor company's stock after purchasing an additional 457 shares during the period. Summit Financial LLC's holdings in KLA were worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in KLA in the first quarter valued at approximately $35,000. Olde Wealth Management LLC bought a new stake in KLA in the first quarter valued at approximately $36,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in KLA in the first quarter valued at approximately $37,000. Hazlett Burt & Watson Inc. bought a new stake in KLA in the first quarter valued at approximately $45,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in KLA by 527.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Insider Buying and Selling at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction on Wednesday, July 2nd. The stock was 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 owned 2,616 shares of the company's stock, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,801 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $913.68, for a total value of $9,868,657.68. Following the transaction, the chief executive officer directly owned 92,818 shares in the company, valued at approximately $84,805,950.24. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,889 shares of company stock worth $17,257,637. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KLAC. UBS Group boosted their target price on KLA from $775.00 to $960.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their target price on KLA from $900.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a research note on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. Finally, Cowen reissued a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $890.59.

KLA Stock Up 0.6%

KLAC stock traded up $5.11 during midday trading on Thursday, hitting $894.00. The stock had a trading volume of 964,163 shares, compared to its average volume of 1,143,951. KLA Corporation has a 52-week low of $551.33 and a 52-week high of $959.26. The firm has a market cap of $117.97 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 3.03 and a beta of 1.44. The business has a 50-day moving average of $904.12 and a two-hundred day moving average of $788.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.62 and a quick ratio of 1.83.

KLA (NASDAQ:KLAC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.85. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. KLA had a return on equity of 112.41% and a net margin of 33.41%.KLA's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.60 EPS. KLA has set its Q1 2026 guidance at 7.760-9.300 EPS. As a group, equities research analysts forecast that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA announced that its board has approved a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a $1.90 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $7.60 annualized dividend and a yield of 0.9%. KLA's dividend payout ratio is 25.01%.

KLA 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.