KLA Co. (NASDAQ:KLAC) Short Interest Up 32.9% in May

KLA Co. (NASDAQ:KLAC - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 3,270,000 shares, an increase of 32.9% from the April 30th total of 2,460,000 shares. Currently, 2.5% of the company's shares are short sold. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is currently 2.7 days.

KLA Stock Up 0.3%

KLA stock traded up $2.17 during midday trading on Thursday, reaching $784.26. The company's stock had a trading volume of 115,632 shares, compared to its average volume of 1,089,118. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The stock has a market capitalization of $103.71 billion, a P/E ratio of 32.94, a PEG ratio of 1.57 and a beta of 1.40. The stock's 50-day simple moving average is $705.53 and its 200-day simple moving average is $697.81. KLA has a 52-week low of $551.33 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. KLA had a net margin of 29.58% and a return on equity of 108.60%. KLA's revenue was up 35.5% on a year-over-year basis. During the same period last year, the firm posted $5.26 EPS. On average, sell-side analysts expect that KLA will post 31.59 EPS for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's payout ratio is presently 27.63%.

KLA declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total value of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares of the company's stock, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,829 shares of company stock valued at $13,240,166 over the last three months. 0.12% of the stock is owned by company insiders.

Institutional Trading of KLA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank raised its position in KLA by 24.0% during the first quarter. First Hawaiian Bank now owns 1,554 shares of the semiconductor company's stock worth $1,056,000 after acquiring an additional 301 shares during the period. Inspire Investing LLC grew its position in shares of KLA by 9.3% in the first quarter. Inspire Investing LLC now owns 16,370 shares of the semiconductor company's stock valued at $11,128,000 after purchasing an additional 1,389 shares in the last quarter. Modern Wealth Management LLC increased its holdings in shares of KLA by 22.3% in the first quarter. Modern Wealth Management LLC now owns 400 shares of the semiconductor company's stock valued at $272,000 after purchasing an additional 73 shares during the last quarter. Strs Ohio purchased a new position in KLA during the first quarter worth approximately $26,473,000. Finally, Advisors Capital Management LLC boosted its stake in KLA by 2.5% during the first quarter. Advisors Capital Management LLC now owns 3,819 shares of the semiconductor company's stock worth $2,597,000 after buying an additional 92 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLAC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a research note on Tuesday, May 20th. Citigroup decreased their target price 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. Barclays reduced 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. JPMorgan Chase & Co. dropped their price objective on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Oppenheimer upped their price objective on KLA from $700.00 to $740.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, KLA currently has a consensus rating of "Moderate Buy" and a consensus price target of $799.58.

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.