KLA Corporation (NASDAQ:KLAC) Stake Lifted by Whelan Financial

Whelan Financial lifted its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 121.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,447 shares of the semiconductor company's stock after buying an additional 793 shares during the period. KLA makes up about 0.4% of Whelan Financial's investment portfolio, making the stock its 22nd biggest position. Whelan Financial's holdings in KLA were worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KLAC. Vanguard Group Inc. lifted its position in KLA by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,484,468 shares of the semiconductor company's stock valued at $8,496,833,000 after purchasing an additional 85,370 shares in the last quarter. Capital International Investors lifted its position in KLA by 0.4% during the fourth quarter. Capital International Investors now owns 3,606,838 shares of the semiconductor company's stock valued at $2,273,118,000 after purchasing an additional 14,397 shares in the last quarter. Geode Capital Management LLC lifted its position in KLA by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,253,302 shares of the semiconductor company's stock valued at $2,046,472,000 after purchasing an additional 31,608 shares in the last quarter. Norges Bank purchased a new position in KLA during the fourth quarter valued at $1,175,756,000. Finally, Northern Trust Corp lifted its position in KLA by 13.8% during the fourth quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company's stock valued at $1,061,878,000 after purchasing an additional 204,330 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KLAC shares. Barclays decreased their price target on KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their price target on KLA from $950.00 to $900.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a report on Thursday, May 1st. Finally, TD Cowen raised their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $831.11.

Insider Activity

In related news, 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 transaction of $34,768.50. Following the transaction, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. The trade was a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer owned 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

KLA Stock Performance

Shares of KLAC stock traded down $11.96 during mid-day trading on Monday, hitting $912.62. 901,146 shares of the stock were exchanged, compared to its average volume of 1,134,623. The stock's fifty day simple moving average is $803.85 and its two-hundred day simple moving average is $734.48. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 1.72 and a beta of 1.42. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $928.02. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54.

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

KLA Increases Dividend

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

KLA announced that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.