KLA Corporation (NASDAQ:KLAC – Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors bought 47,908 put options on the stock. This is an increase of approximately 167% compared to the typical daily volume of 17,960 put options.
Insider Activity
In other KLA news, CEO Richard P. Wallace sold 87,568 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total value of $17,421,653.60. Following the completion of the sale, the chief executive officer directly owned 778,944 shares in the company, valued at $154,970,908.80. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $208.13, for a total value of $12,401,634.18. Following the sale, the executive vice president directly owned 77,681 shares in the company, valued at approximately $16,167,746.53. This represents a 43.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 219,173 shares of company stock worth $42,201,914. Corporate insiders own 79.39% of the company’s stock.
Hedge Funds Weigh In On KLA
A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in KLA by 928.9% during 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 bought a new position in KLA in the second quarter valued at approximately $2,522,430,000. Assenagon Asset Management S.A. increased its position in shares of KLA by 239.3% during 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 purchasing an additional 3,959,927 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of KLA by 5.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock worth $997,000,000 after purchasing an additional 256,716 shares in the last quarter. Finally, National Pension Service raised its stake in shares of KLA by 899.4% during the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock worth $1,096,673,000 after purchasing an additional 3,271,158 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.
KLA Stock Down 4.0%
NASDAQ:KLAC traded down $6.19 during trading hours on Wednesday, reaching $150.01. 3,643,893 shares of the stock were exchanged, compared to its average volume of 11,196,197. The stock has a market cap of $195.46 billion, a PE ratio of 37.60, a PEG ratio of 1.25 and a beta of 1.49. KLA has a twelve month low of $107.20 and a twelve month high of $307.37. The firm has a 50 day moving average of $177.49 and a 200 day moving average of $181.89. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86.
KLA (NASDAQ:KLAC – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. The company had revenue of $4.14 billion for 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 was up 28.9% compared to the same quarter last year. During the same period last year, the company earned $8.47 earnings per share. On average, equities analysts expect that KLA will post 5.73 earnings per share for the current year.
KLA Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 17th. This is an increase from KLA’s previous quarterly dividend of $0.23. KLA’s dividend payout ratio (DPR) is presently 23.00%.
Analyst Upgrades and Downgrades
Several analysts have commented on KLAC shares. Argus restated a “buy” rating and set a $225.00 target price on shares of KLA in a report on Friday, October 30th. Weiss Ratings upgraded shares of KLA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 16th. Sanford C. Bernstein reissued an “outperform” rating and set a $225.00 price objective on shares of KLA in a research report on Wednesday, July 29th. Zacks Research upgraded shares of KLA from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $260.00 price objective (up from $200.00) on shares of KLA in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.35.
Check Out Our Latest Analysis on KLA
KLA Company Profile
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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