World Investment Advisors Grows Position in KLA Corporation (NASDAQ:KLAC)

World Investment Advisors grew its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 41.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,160 shares of the semiconductor company's stock after purchasing an additional 340 shares during the quarter. World Investment Advisors' holdings in KLA were worth $789,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its stake in KLA by 81.9% in the fourth quarter. Proficio Capital Partners LLC now owns 544 shares of the semiconductor company's stock worth $342,000 after acquiring an additional 245 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in KLA by 6.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 341 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 22 shares during the period. PNC Financial Services Group Inc. lifted its stake in KLA by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,287 shares of the semiconductor company's stock worth $14,043,000 after acquiring an additional 610 shares during the period. Larson Financial Group LLC lifted its stake in KLA by 7.6% in the fourth quarter. Larson Financial Group LLC now owns 582 shares of the semiconductor company's stock worth $367,000 after acquiring an additional 41 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in KLA by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,916 shares of the semiconductor company's stock worth $20,741,000 after acquiring an additional 2,132 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Stock Up 0.6%

Shares of KLAC traded up $5.44 during mid-day trading on Thursday, hitting $928.62. 798,133 shares of the company traded hands, compared to its average volume of 1,137,622. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $932.24. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $122.80 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42. The business has a 50 day moving average of $817.26 and a 200 day moving average of $739.01.

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

KLA announced that its board has approved 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 0.82%. The ex-dividend date was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is 27.63%.

Insider Buying and Selling

In related news, CAO Virendra A. Kirloskar sold 39 shares of the 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 owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 owned 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research reports. TD Securities upped their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Wells Fargo & Company reissued an "equal weight" rating and set a $920.00 price target (up from $870.00) on shares of KLA in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a research report on Tuesday, June 24th. Needham & Company LLC reissued a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their price target on shares of KLA from $868.00 to $916.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, KLA currently has an average rating of "Hold" and a consensus price target of $840.33.

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.