Independent Advisor Alliance Has $480,000 Position in KLA Co. (NASDAQ:KLAC)

Independent Advisor Alliance raised its stake in shares of KLA Co. (NASDAQ:KLACGet Rating) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,312 shares of the semiconductor company’s stock after buying an additional 81 shares during the period. Independent Advisor Alliance’s holdings in KLA were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KLAC. Norges Bank acquired a new stake in shares of KLA in the 4th quarter valued at $598,653,000. C2C Wealth Management LLC acquired a new stake in shares of KLA in the 4th quarter valued at $401,488,000. 1832 Asset Management L.P. lifted its stake in shares of KLA by 53,951.8% in the 4th quarter. 1832 Asset Management L.P. now owns 584,300 shares of the semiconductor company’s stock valued at $252,104,000 after purchasing an additional 583,219 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of KLA by 297.8% in the 1st quarter. Ceredex Value Advisors LLC now owns 633,468 shares of the semiconductor company’s stock valued at $231,887,000 after purchasing an additional 474,229 shares during the last quarter. Finally, Maj Invest Holding A S lifted its stake in shares of KLA by 43.3% in the 1st quarter. Maj Invest Holding A S now owns 805,498 shares of the semiconductor company’s stock valued at $294,856,000 after purchasing an additional 243,339 shares during the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

Insider Buying and Selling at KLA

In other KLA news, CFO Bren D. Higgins sold 5,330 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $383.11, for a total value of $2,041,976.30. Following the transaction, the chief financial officer now directly owns 52,145 shares in the company, valued at $19,977,270.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Bren D. Higgins sold 5,330 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,041,976.30. Following the transaction, the chief financial officer now directly owns 52,145 shares in the company, valued at $19,977,270.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 351 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $383.71, for a total transaction of $134,682.21. Following the transaction, the executive vice president now owns 29,726 shares in the company, valued at $11,406,163.46. The disclosure for this sale can be found here. Insiders have sold a total of 7,303 shares of company stock worth $2,739,490 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KLAC. KeyCorp lifted their target price on shares of KLA from $375.00 to $410.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Evercore ISI set a $425.00 target price on shares of KLA in a report on Monday, June 20th. Piper Sandler dropped their target price on shares of KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Bank of America dropped their target price on shares of KLA from $430.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of KLA from $425.00 to $385.00 in a report on Monday, July 18th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has an average rating of “Moderate Buy” and an average price target of $425.16.

KLA Stock Performance

NASDAQ KLAC opened at $395.74 on Friday. The stock has a market cap of $59.06 billion, a P/E ratio of 18.07, a PEG ratio of 1.28 and a beta of 1.33. KLA Co. has a twelve month low of $282.83 and a twelve month high of $457.12. The company has a quick ratio of 1.75, a current ratio of 2.50 and a debt-to-equity ratio of 4.76. The company’s 50-day simple moving average is $340.45 and its 200 day simple moving average is $347.09.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings results on Thursday, July 28th. The semiconductor company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. KLA had a net margin of 36.06% and a return on equity of 95.80%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.43 earnings per share. As a group, research analysts forecast that KLA Co. will post 24.83 earnings per share for the current fiscal year.

KLA declared that its Board of Directors has initiated a share buyback program on Thursday, June 16th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a $1.30 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.05. This represents a $5.20 dividend on an annualized basis and a yield of 1.31%. KLA’s payout ratio is 19.18%.

About KLA

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KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

Further Reading

Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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