Patton Albertson Miller Group LLC reduced its position in KLA Corporation (NASDAQ:KLAC – Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,945 shares of the semiconductor company’s stock after selling 3,698 shares during the quarter. KLA makes up about 2.2% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 10th biggest holding. Patton Albertson Miller Group LLC’s holdings in KLA were worth $22,016,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of KLAC. Wellington Management Group LLP lifted its holdings in 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 during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of KLA in the 2nd quarter worth approximately $2,522,430,000. Assenagon Asset Management S.A. grew its position in shares of KLA by 239.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock worth $1,094,530,000 after acquiring an additional 3,959,927 shares in the last quarter. National Pension Service increased its holdings in shares of KLA by 899.4% in the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock valued at $1,096,673,000 after acquiring an additional 3,271,158 shares during the last quarter. Finally, NEOS Investment Management LLC increased its holdings 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 valued at $295,486,000 after acquiring an additional 889,269 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.
Insiders Place Their Bets
In other news, CAO Virendra Kirloskar sold 4,504 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $195.50, for a total transaction of $880,532.00. Following the transaction, the chief accounting officer directly owned 7,972 shares of the company’s stock, valued at approximately $1,558,526. This trade represents a 36.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Wallace sold 87,568 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total transaction of $17,421,653.60. Following the sale, the chief executive officer owned 778,944 shares in the company, valued at $154,970,908.80. This trade represents a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 243,339 shares of company stock valued at $46,903,454. 79.39% of the stock is owned by corporate insiders.
KLA Trading Up 2.5%
KLA stock opened at $149.21 on Tuesday. KLA Corporation has a 52-week low of $107.20 and a 52-week high of $307.37. The company has a quick ratio of 2.03, a current ratio of 2.88 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $194.72 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 1.29 and a beta of 1.45. The firm has a 50-day moving average price of $182.43 and a two-hundred day moving average price of $181.30.
KLA (NASDAQ:KLAC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. KLA had a net margin of 35.57% and a return on equity of 87.66%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business earned $0.94 earnings per share. KLA’s revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that KLA Corporation will post 5.43 earnings per share for the current year.
KLA Increases Dividend
The firm 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. This represents a $0.92 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, August 17th. KLA’s payout ratio is presently 25.07%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $195.00 price objective (down from $220.00) on shares of KLA in a research note on Wednesday, July 29th. Stifel Nicolaus set a $250.00 price objective on shares of KLA and gave the stock a “buy” rating in a report on Wednesday, July 29th. Oppenheimer reiterated an “outperform” rating and set a $260.00 target price (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. Barclays reissued an “overweight” rating and set a $225.00 target price on shares of KLA in a report on Monday, July 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $325.00 price target on shares of KLA in a research report on Wednesday, July 29th. Nineteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.26.
Get Our Latest Research Report on KLA
About KLA
KLA Corporation (NASDAQ: KLAC) develops process control, inspection and yield management solutions for the semiconductor and other advanced manufacturing industries. Its technologies help manufacturers identify defects, measure critical dimensions and monitor production processes to improve quality, reliability and manufacturing efficiency.
The company’s product portfolio includes wafer and reticle inspection systems, metrology and measurement tools, defect review and classification systems, and software for analyzing manufacturing data.
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