Insider Selling: KLA Corporation (NASDAQ:KLAC) CAO Sells 39 Shares of Stock

KLA Corporation (NASDAQ:KLAC - Get Free Report) CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction 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 sale, the chief accounting officer owned 2,616 shares in the company, valued at $2,332,164. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

KLA Stock Down 0.7%

Shares of KLAC stock traded down $6.40 during mid-day trading on Friday, hitting $914.70. The stock had a trading volume of 489,375 shares, compared to its average volume of 1,132,863. 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 current ratio of 2.54 and a quick ratio of 1.74. The firm's 50-day moving average is $799.45 and its two-hundred day moving average is $731.20. The firm has a market capitalization of $120.96 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42.

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

KLA Increases Dividend

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

KLA declared that its Board of Directors has initiated 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 generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

KLAC has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a "hold" rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Stifel Nicolaus lifted their price target on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup reduced their price objective on shares of KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Oppenheimer boosted their target price on KLA from $740.00 to $950.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Finally, TD Cowen upped their target price on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $818.06.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KLAC. MAI Capital Management grew its stake in KLA by 1.0% in the first quarter. MAI Capital Management now owns 1,365 shares of the semiconductor company's stock valued at $928,000 after purchasing an additional 14 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in shares of KLA by 1.2% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 1,212 shares of the semiconductor company's stock valued at $824,000 after buying an additional 14 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of KLA by 12.0% in the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock worth $88,000 after buying an additional 15 shares during the last quarter. IFC Advisors LLC raised its stake in shares of KLA by 4.6% during the 1st quarter. IFC Advisors LLC now owns 342 shares of the semiconductor company's stock worth $232,000 after acquiring an additional 15 shares in the last quarter. Finally, Trust Investment Advisors lifted its position in KLA by 1.3% during the first quarter. Trust Investment Advisors now owns 1,188 shares of the semiconductor company's stock valued at $808,000 after acquiring an additional 15 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Company 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.