Vident Investment Advisory LLC Raises Stock Holdings in KLA Co. (NASDAQ:KLAC)

Vident Investment Advisory LLC raised its position in shares of KLA Co. (NASDAQ:KLACGet Rating) by 7.5% during the 1st quarter, Holdings Channel reports. The fund owned 16,812 shares of the semiconductor company’s stock after purchasing an additional 1,180 shares during the period. Vident Investment Advisory LLC’s holdings in KLA were worth $6,151,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC raised its holdings in shares of KLA by 154.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 89 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 54 shares in the last quarter. Centerpoint Advisors LLC purchased a new stake in KLA during the 1st quarter valued at $43,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its holdings in KLA by 36.4% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 150 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 40 shares during the period. DeDora Capital Inc. purchased a new stake in KLA during the 1st quarter valued at $55,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in KLA by 66.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 155 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 62 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

KLAC opened at $358.67 on Friday. KLA Co. has a 12-month low of $282.83 and a 12-month high of $457.12. The business’s fifty day simple moving average is $352.71 and its 200-day simple moving average is $344.18. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.17 and a beta of 1.35. The company has a current ratio of 2.50, a quick ratio of 1.75 and a debt-to-equity ratio of 4.76.

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 the consensus estimate of $5.46 by $0.35. KLA had a net margin of 36.06% and a return on equity of 95.80%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted $4.43 earnings per share. The company’s quarterly revenue was up 29.2% on a year-over-year basis. On average, equities research analysts anticipate that KLA Co. will post 24.65 earnings per share for the current fiscal year.

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

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, August 12th. This is a positive change from KLA’s previous quarterly dividend of $1.05. KLA’s payout ratio is 23.74%.

Insider Buying and Selling

In related news, insider Ahmad A. Khan sold 7,736 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the completion of the transaction, the insider now owns 77,927 shares in the company, valued at approximately $28,073,981.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Oreste Donzella sold 96 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $320.00, for a total transaction of $30,720.00. Following the completion of the transaction, the executive vice president now owns 35,442 shares in the company, valued at approximately $11,341,440. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ahmad A. Khan sold 7,736 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the transaction, the insider now owns 77,927 shares of the company’s stock, valued at approximately $28,073,981.02. The disclosure for this sale can be found here. Insiders sold a total of 14,761 shares of company stock worth $5,468,670 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays decreased their price target on KLA from $365.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Piper Sandler decreased their price target on KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Wells Fargo & Company decreased their price target on KLA from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 15th. The Goldman Sachs Group reduced their target price on KLA from $437.00 to $344.00 in a research note on Friday, July 15th. Finally, StockNews.com lowered KLA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $424.16.

KLA Profile

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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

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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