KLA Corporation (NASDAQ:KLAC) Position Increased by Whelan Financial

Whelan Financial increased its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 121.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,447 shares of the semiconductor company's stock after acquiring an additional 793 shares during the quarter. KLA makes up approximately 0.4% of Whelan Financial's holdings, making the stock its 22nd biggest holding. Whelan Financial's holdings in KLA were worth $984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC increased its stake in shares of KLA by 5.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,501 shares of the semiconductor company's stock valued at $1,020,000 after acquiring an additional 79 shares during the last quarter. HM Payson & Co. grew its holdings in KLA by 270.0% in the first quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 54 shares during the period. World Investment Advisors increased its position in KLA by 41.5% during the first quarter. World Investment Advisors now owns 1,160 shares of the semiconductor company's stock worth $789,000 after purchasing an additional 340 shares during the last quarter. Wayfinding Financial LLC purchased a new position in KLA during the first quarter worth approximately $79,000. Finally, Olde Wealth Management LLC purchased a new position in KLA during the first quarter worth approximately $36,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded KLA from a "buy" rating to a "hold" rating and set a $790.00 price objective for the company. in a report on Tuesday, May 20th. Jefferies Financial Group restated a "hold" rating and set a $725.00 price target (down from $875.00) on shares of KLA in a research note on Friday, March 28th. Oppenheimer lifted their price objective on KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. Finally, Barclays cut their price target on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, KLA has an average rating of "Moderate Buy" and a consensus price target of $818.06.

KLA Stock Down 0.7%

KLAC stock traded down $6.40 during trading on Friday, reaching $914.70. The stock had a trading volume of 489,375 shares, compared to its average volume of 1,135,561. 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 fifty day moving average price of $803.85 and a 200 day moving average price of $733.70. The company has a market capitalization of $120.96 billion, a P/E ratio of 33.25, a PEG 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 released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, topping the consensus estimate of $8.08 by $0.33. The business 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 company's revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.26 earnings per share. On average, equities analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Increases Dividend

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

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

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 78,740 shares of the company's stock, valued at $53,803,042. This trade represents a 12.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction 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 $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,860 shares of company stock valued at $8,196,798 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

About KLA

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.