TFR Capital LLC. purchased a new stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 588 shares of the semiconductor company's stock, valued at approximately $400,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in KLA in the fourth quarter worth $1,175,756,000. GAMMA Investing LLC increased its stake in KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock worth $1,138,221,000 after purchasing an additional 1,672,589 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in KLA by 33.7% in the fourth 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 worth $750,638,000 after purchasing an additional 300,015 shares during the period. Capital Research Global Investors purchased a new stake in KLA in the fourth quarter worth $187,212,000. Finally, Pictet Asset Management Holding SA increased its stake in KLA by 25.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company's stock worth $916,926,000 after purchasing an additional 292,907 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.
KLA Price Performance
KLAC opened at $924.58 on Friday. The business's 50-day moving average is $826.84 and its two-hundred day moving average is $743.47. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $932.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The firm has a market capitalization of $122.27 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42.
KLA (NASDAQ:KLAC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm earned $5.26 earnings per share. The firm's quarterly revenue was up 35.5% compared to the same quarter last year. Research analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current fiscal year.
KLA Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio (DPR) is currently 27.63%.
KLA announced that its Board of Directors has authorized 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 reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have weighed in on KLAC shares. Morgan Stanley increased their target price on KLA from $868.00 to $916.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Jefferies Financial Group restated a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wells Fargo & Company restated an "equal weight" rating and set a $920.00 price target (up previously from $870.00) on shares of KLA in a research note on Tuesday, July 8th. Finally, Barclays cut their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, KLA currently has an average rating of "Hold" and a consensus target price of $840.33.
Check Out Our Latest Report on KLA
Insiders Place Their Bets
In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 78,740 shares of the company's stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the sale, the chief financial officer directly owned 27,779 shares of the company's stock, 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. Over the last 90 days, insiders sold 11,860 shares of company stock valued at $8,196,798. 0.12% of the stock is currently owned by corporate insiders.
KLA Profile
(
Free Report)
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.
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