West Family Investments Inc. Takes Position in KLA Corporation (NASDAQ:KLAC)

West Family Investments Inc. bought a new position in KLA Corporation (NASDAQ:KLAC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 352 shares of the semiconductor company's stock, valued at approximately $239,000.

Several other large investors have also made changes to their positions in the company. 3Chopt Investment Partners LLC acquired a new position in shares of KLA during the 1st quarter valued at $402,000. GAMMA Investing LLC raised its position in KLA by 40.1% in the first 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 period. Confluence Wealth Services Inc. acquired a new position in shares of KLA during the first quarter worth about $1,479,000. Keyvantage Wealth LLC purchased a new stake in shares of KLA in the fourth quarter worth about $214,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of KLA by 2.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 138,990 shares of the semiconductor company's stock worth $93,624,000 after buying an additional 3,846 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 1.6%

NASDAQ:KLAC opened at $936.53 on Wednesday. The company has a market cap of $123.85 billion, a PE ratio of 34.04, a P/E/G ratio of 1.72 and a beta of 1.42. The business's 50 day moving average is $836.52 and its two-hundred day moving average is $747.40. 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 Corporation has a 52 week low of $551.33 and a 52 week high of $942.34.

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 (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. KLA had a return on equity of 112.97% and a net margin of 31.99%. The firm's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the business posted $5.26 earnings per share. On average, analysts predict that KLA Corporation will post 31.59 EPS for the current year.

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 issued a $1.90 dividend. 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. This represents a $7.60 annualized dividend and a dividend yield of 0.81%. KLA's payout ratio is 27.63%.

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

Wall Street Analysts Forecast Growth

KLAC has been the topic of several recent research reports. Cowen reissued a "hold" rating on shares of KLA in a research report on Thursday, May 1st. TD Securities boosted their target price on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. The Goldman Sachs Group assumed coverage on shares of KLA in a research note on Thursday, July 10th. They issued a "neutral" rating and a $980.00 target price for the company. Morgan Stanley lifted their price target on shares of KLA from $868.00 to $916.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Citigroup reissued a "buy" rating and issued a $1,035.00 price objective (up from $835.00) on shares of KLA in a research report on Monday, July 7th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $840.33.

Insider Activity at KLA

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer owned 27,779 shares of the company's stock, valued at $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Virendra A. Kirloskar sold 39 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 2,616 shares of the company's stock, valued at $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,860 shares of company stock valued at $8,196,798 in the last quarter. 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.

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