KLA Co. (NASDAQ:KLAC) EVP Sells $1,010,672.70 in Stock

KLA Co. (NASDAQ:KLACGet Rating) EVP Mary Beth Wilkinson sold 3,155 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $320.34, for a total value of $1,010,672.70. Following the transaction, the executive vice president now directly owns 12,228 shares of the company’s stock, valued at $3,917,117.52. The sale was disclosed in a filing with the SEC, which is available at this link.

KLA Price Performance

KLA stock traded down $5.47 during mid-day trading on Friday, hitting $307.60. 1,807,172 shares of the company were exchanged, compared to its average volume of 1,490,648. KLA Co. has a 12-month low of $282.83 and a 12-month high of $457.12. The business’s 50 day simple moving average is $357.57 and its two-hundred day simple moving average is $343.74. The company has a debt-to-equity ratio of 4.76, a current ratio of 2.50 and a quick ratio of 1.75. The company has a market capitalization of $43.62 billion, a P/E ratio of 13.88, a PEG ratio of 1.05 and a beta of 1.35.

KLA (NASDAQ:KLACGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.46 by $0.35. KLA had a return on equity of 95.80% and a net margin of 36.06%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the firm earned $4.43 earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. Analysts forecast that KLA Co. will post 24.65 earnings per share for the current fiscal year.

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

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $1.30 per share. This is a boost from KLA’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, August 12th. This represents a $5.20 annualized dividend and a dividend yield of 1.69%. KLA’s dividend payout ratio (DPR) is 23.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KLAC. Morgan Stanley cut their target price on KLA from $381.00 to $358.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 6th. Bank of America cut their target price on KLA from $430.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Evercore ISI set a $425.00 price objective on KLA in a research note on Monday, June 20th. Piper Sandler dropped their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating for the company in a research note on Thursday, May 26th. Finally, StockNews.com downgraded 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. Based on data from MarketBeat, KLA has a consensus rating of “Moderate Buy” and a consensus price target of $424.16.

Institutional Investors Weigh In On KLA

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in KLA by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,554,919 shares of the semiconductor company’s stock valued at $4,961,914,000 after acquiring an additional 44,929 shares during the last quarter. BlackRock Inc. lifted its stake in shares of KLA by 2.4% during the first quarter. BlackRock Inc. now owns 11,598,754 shares of the semiconductor company’s stock worth $4,245,843,000 after purchasing an additional 274,070 shares in the last quarter. Capital International Investors lifted its stake in shares of KLA by 0.8% during the fourth quarter. Capital International Investors now owns 7,531,100 shares of the semiconductor company’s stock worth $3,238,787,000 after purchasing an additional 63,037 shares in the last quarter. State Street Corp lifted its stake in shares of KLA by 1.8% during the fourth quarter. State Street Corp now owns 6,315,958 shares of the semiconductor company’s stock worth $2,716,557,000 after purchasing an additional 113,477 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of KLA by 34.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,198,127 shares of the semiconductor company’s stock worth $1,977,699,000 after purchasing an additional 1,579,926 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

KLA Company Profile

(Get Rating)

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

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Insider Buying and Selling by Quarter for KLA (NASDAQ:KLAC)

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