KLA Corporation $KLAC Stake Increased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in shares of KLA Corporation (NASDAQ:KLAC – Free Report) by 19.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 58,737 shares of the semiconductor company’s stock after purchasing an additional 9,402 shares during the quarter. Ritholtz Wealth Management’s holdings in KLA were worth $11,450,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp lifted its holdings in KLA by 49.3% in the third quarter. UNIVEST FINANCIAL Corp now owns 1,508 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 498 shares during the period. NBH Bank boosted its position in KLA by 177.1% during the third quarter. NBH Bank now owns 194 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 124 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in KLA by 3.1% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 6,094 shares of the semiconductor company’s stock worth $1,188,000 after acquiring an additional 184 shares during the period. Machina Capital S.A.S. acquired a new stake in KLA during the 3rd quarter worth about $3,765,000. Finally, Silver Grove Financial Group Inc. grew its holdings in KLA by 16.5% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 3,164 shares of the semiconductor company’s stock worth $617,000 after acquiring an additional 449 shares during the period. Institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other KLA news, CEO Richard Wallace sold 72,019 shares of KLA stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total transaction of $12,378,625.72. Following the transaction, the chief executive officer directly owned 706,925 shares of the company’s stock, valued at $121,506,269. The trade was a 9.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 79.39% of the company’s stock.

KLA Stock Performance

Shares of KLA stock opened at $161.01 on Thursday. The company has a market cap of $209.79 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.49. KLA Corporation has a 52 week low of $107.20 and a 52 week high of $307.37. The business has a 50 day moving average price of $173.70 and a 200-day moving average price of $181.74. The company has a quick ratio of 1.86, a current ratio of 2.76 and a debt-to-equity ratio of 0.88.

KLA (NASDAQ:KLAC – Get Free Report) last posted its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share 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 analyst estimates of $4.04 billion. KLA had a return on equity of 89.30% and a net margin of 36.25%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $8.47 earnings per share. Equities analysts anticipate that KLA Corporation will post 5.73 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, November 16th. This represents a $0.92 annualized dividend and a yield of 0.6%. KLA’s dividend payout ratio (DPR) is 23.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KLAC shares. Truist Financial set a $225.00 price objective on KLA in a research report on Thursday, October 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. BMO Capital Markets set a $133.00 target price on KLA in a research report on Thursday, October 29th. Barclays reaffirmed an “overweight” rating and set a $225.00 target price on shares of KLA in a research note on Monday, July 20th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $225.00 target price on shares of KLA in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $220.35.

Read Our Latest Report on KLAC

KLA Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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