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World Investment Advisors Acquires 340 Shares of KLA Corporation (NASDAQ:KLAC)

KLA logo with Computer and Technology background

World Investment Advisors grew its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 41.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,160 shares of the semiconductor company's stock after acquiring an additional 340 shares during the period. World Investment Advisors' holdings in KLA were worth $789,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tortoise Investment Management LLC raised its stake in shares of KLA by 300.0% during 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 last quarter. TCTC Holdings LLC bought a new position in shares of KLA during the fourth quarter valued at $31,000. Alpine Bank Wealth Management bought a new position in shares of KLA during the first quarter valued at $35,000. Olde Wealth Management LLC bought a new position in shares of KLA during the first quarter valued at $36,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of KLA by 527.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

KLA Stock Down 0.4%

Shares of NASDAQ KLAC traded down $4.04 during mid-day trading on Friday, reaching $924.58. 570,461 shares of the company's stock traded hands, compared to its average volume of 1,136,402. The stock has a market cap of $122.27 billion, a P/E ratio of 33.61, a PEG ratio of 1.73 and a beta of 1.42. The business has a 50-day simple moving average of $826.84 and a 200 day simple moving average of $742.83. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $932.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74.

KLA (NASDAQ:KLAC - Get Free Report) last released 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 business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company earned $5.26 earnings per share. The firm's revenue for the quarter was up 35.5% compared to the same quarter last year. On average, analysts expect that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued 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 yield of 0.82%. KLA's payout ratio is 27.63%.

KLA declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KLAC. Jefferies Financial Group reaffirmed a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Wall Street Zen lowered shares of KLA from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Oppenheimer boosted their target price on shares of KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. The Goldman Sachs Group began coverage on shares of KLA in a report on Thursday. They issued a "neutral" rating and a $980.00 target price on the stock. Finally, Barclays dropped their target price 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. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $840.33.

Get Our Latest Stock Analysis on KLAC

Insider Buying and Selling

In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of the business's stock in a transaction dated 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 in the company, valued at $2,332,164. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction dated 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 owned 78,740 shares in the company, valued at approximately $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is owned by insiders.

About KLA

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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