Wellington Management Group LLP Sells 74,323 Shares of KLA Corporation $KLAC

Key Points

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Wellington Management Group LLP trimmed its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,416,876 shares of the semiconductor company's stock after selling 74,323 shares during the period. Wellington Management Group LLP owned approximately 1.07% of KLA worth $963,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 3Chopt Investment Partners LLC bought a new stake in shares of KLA in the 1st quarter valued at approximately $402,000. GAMMA Investing LLC lifted its stake in shares of KLA by 40.1% in the 1st quarter. GAMMA Investing LLC now owns 2,463 shares of the semiconductor company's stock valued at $1,674,000 after purchasing an additional 705 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of KLA in the 1st quarter valued at approximately $1,479,000. Keyvantage Wealth LLC bought a new stake in shares of KLA in the 4th quarter valued at approximately $214,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KLA by 2.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 138,990 shares of the semiconductor company's stock valued at $93,624,000 after purchasing an additional 3,846 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Trading Up 1.0%

KLAC opened at $883.39 on Tuesday. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $959.26. The stock's fifty day moving average is $903.60 and its two-hundred day moving average is $782.31. The company has a market capitalization of $116.57 billion, a P/E ratio of 29.07, a PEG ratio of 2.98 and a beta of 1.44. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 1.25.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.53 by $0.85. KLA had a return on equity of 112.41% and a net margin of 33.41%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $6.60 EPS. The business's revenue was up 23.6% compared to the same quarter last year. Analysts forecast that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued a $1.90 dividend. The ex-dividend date is Monday, August 18th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.9%. KLA's dividend payout ratio (DPR) is currently 25.01%.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KLAC. JPMorgan Chase & Co. raised their price objective 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 downgraded KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a report on Tuesday, May 20th. Oppenheimer increased their price target on KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $920.00 price target (up from $870.00) on shares of KLA in a report on Tuesday, July 8th. Finally, UBS Group increased their price target on KLA from $775.00 to $960.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $890.59.

Insider Buying and Selling

In other news, CEO Richard P. Wallace sold 10,801 shares of KLA stock in a transaction on Tuesday, August 12th. The stock was 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. This trade represents a 10.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of KLA 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 transaction, the chief accounting officer owned 2,616 shares in the company, valued at $2,332,164. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,908 shares of company stock valued at $18,038,659. 0.12% of the stock is owned by insiders.

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.

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