Whelan Financial Grows Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Whelan Financial raised its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 121.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,447 shares of the semiconductor company's stock after buying an additional 793 shares during the period. KLA comprises about 0.4% of Whelan Financial's portfolio, making the stock its 22nd largest holding. Whelan Financial's holdings in KLA were worth $984,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tortoise Investment Management LLC lifted its holdings in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 36 shares during the period. TCTC Holdings LLC purchased a new position in shares of KLA during the 4th quarter valued at approximately $31,000. Alpine Bank Wealth Management acquired a new position in shares of KLA in the 1st quarter valued at $35,000. Olde Wealth Management LLC purchased a new stake in KLA during the first quarter worth $36,000. Finally, Fairfield Financial Advisors LTD increased its holdings in KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Trading Down 1.2%

KLA stock traded down $11.13 during mid-day trading on Monday, hitting $913.45. The company's stock had a trading volume of 187,976 shares, compared to its average volume of 1,131,808. The stock's fifty day moving average is $803.85 and its two-hundred day moving average is $734.48. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $120.80 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $928.02.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating analysts' consensus estimates of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The business's revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the business earned $5.26 earnings per share. On average, analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

KLA declared that its Board of Directors has approved a share buyback program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $1.90 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is 27.63%.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction on 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 transaction, the chief executive officer directly owned 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of the business's 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 transaction, the chief accounting officer directly owned 2,616 shares of the company's stock, valued at $2,332,164. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,860 shares of company stock valued at $8,196,798 in the last ninety days. Company insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their target price 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. Citigroup reiterated a "buy" rating on shares of KLA in a research report on Monday. TD Securities upped their target price on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. UBS Group increased their target price on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of KLA from a "buy" rating to a "hold" rating in a research report on Saturday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $818.06.

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.