VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in KLA Corporation (NASDAQ:KLAC – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 411,100 shares of the semiconductor company’s stock, valued at approximately $124,033,000. KLA accounts for 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 22nd biggest position.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in KLA by 298,176.3% during the 2nd quarter. California State Teachers Retirement System now owns 599,111,883 shares of the semiconductor company’s stock valued at $180,758,046,000 after buying an additional 598,911,025 shares during the period. Wellington Management Group LLP raised its position in shares of KLA by 928.9% during the 2nd quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock worth $4,471,832,000 after buying an additional 13,381,153 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of KLA in the 2nd quarter worth approximately $2,522,430,000. NEOS Investment Management LLC lifted its stake in shares of KLA by 987.0% in the 2nd quarter. NEOS Investment Management LLC now owns 979,371 shares of the semiconductor company’s stock worth $295,486,000 after acquiring an additional 889,269 shares during the period. Finally, Railway Pension Investments Ltd boosted its holdings in shares of KLA by 960.4% in the second quarter. Railway Pension Investments Ltd now owns 926,652 shares of the semiconductor company’s stock valued at $279,580,000 after acquiring an additional 839,265 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.
KLA Stock Performance
Shares of KLAC opened at $185.60 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.88 and a quick ratio of 2.03. The firm’s 50 day moving average is $205.50 and its 200-day moving average is $188.93. KLA Corporation has a 12-month low of $87.83 and a 12-month high of $307.37. The stock has a market capitalization of $242.50 billion, a P/E ratio of 50.61, a P/E/G ratio of 1.65 and a beta of 1.45.
KLA Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.23 per share. This is a boost from KLA’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, August 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. KLA’s payout ratio is currently 25.07%.
Insider Activity at KLA
In other news, EVP Brian Lorig sold 59,586 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the completion of the sale, the executive vice president directly owned 77,681 shares of the company’s stock, valued at $16,167,746.53. This represents a 43.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP MaryBeth Wilkinson sold 13,802 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $195.50, for a total value of $2,698,291.00. Following the completion of the transaction, the executive vice president owned 22,110 shares of the company’s stock, valued at $4,322,505. This trade represents a 38.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 258,533 shares of company stock worth $55,977,470. 91.48% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently commented on KLAC shares. Susquehanna set a $215.00 price objective on shares of KLA and gave the company a “neutral” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on KLA from $200.00 to $238.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Bank of America increased their price target on KLA from $210.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. UBS Group lowered their price target on KLA from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $260.00 price objective (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.22.
Check Out Our Latest Stock Analysis on KLAC
About KLA
KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA’s offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.
Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.
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