Ethic Inc. increased its position in shares of KLA Corporation (NASDAQ:KLAC – Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 183,389 shares of the semiconductor company’s stock after purchasing an additional 7,334 shares during the quarter. Ethic Inc.’s holdings in KLA were worth $35,748,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in KLA by 928.9% in the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock valued at $4,471,832,000 after purchasing an additional 13,381,153 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of KLA in the second quarter valued at $2,522,430,000. Assenagon Asset Management S.A. increased its position in shares of KLA by 239.3% in the third quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock valued at $1,094,530,000 after buying an additional 3,959,927 shares in the last quarter. National Pension Service increased its position in shares of KLA by 899.4% in the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock valued at $1,096,673,000 after buying an additional 3,271,158 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of KLA during the 3rd quarter worth $377,898,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at KLA
In other news, CEO Richard Wallace sold 72,019 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total value of $12,378,625.72. Following the completion of the transaction, the chief executive officer owned 706,925 shares of the company’s stock, valued at $121,506,269. The trade was a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the transaction, the executive vice president directly owned 77,681 shares in the company, valued at $16,167,746.53. The trade was a 43.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 219,173 shares of company stock valued at $42,201,914. Insiders own 79.39% of the company’s stock.
KLA News Summary
Here are the key news stories impacting KLA this week:
- Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
- Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
- Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
- Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
- Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying
KLA Trading Up 6.7%
KLA stock opened at $138.49 on Friday. The stock has a market cap of $180.45 billion, a PE ratio of 34.62, a P/E/G ratio of 1.13 and a beta of 1.49. The stock has a 50-day moving average price of $174.83 and a 200 day moving average price of $181.68. KLA Corporation has a 52 week low of $107.20 and a 52 week high of $307.37. The company has a current ratio of 2.76, a quick ratio of 1.86 and a debt-to-equity ratio of 0.88.
KLA (NASDAQ:KLAC – Get Free Report) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.04. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.04 billion. KLA had a net margin of 36.25% and a return on equity of 89.30%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.47 EPS. Equities research analysts predict that KLA Corporation will post 5.73 earnings per share for the current fiscal year.
KLA Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, November 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.7%. KLA’s payout ratio is 23.00%.
Analyst Ratings Changes
Several equities research analysts recently commented on KLAC shares. Wall Street Zen upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Saturday. Evercore reissued an “outperform” rating and issued a $185.00 price objective on shares of KLA in a research note on Thursday, October 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $195.00 target price (down from $220.00) on shares of KLA in a report on Wednesday, July 29th. Needham & Company LLC restated a “buy” rating and set a $200.00 target price (down from $270.00) on shares of KLA in a research report on Thursday, October 29th. Finally, Wells Fargo & Company reduced their price target on shares of KLA from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.35.
Read Our Latest Research Report on KLA
About KLA
KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.
The company’s products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.
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