KLA Corporation $KLAC Stock Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its position in shares of KLA Corporation (NASDAQ:KLAC) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,209 shares of the semiconductor company’s stock after selling 5,017 shares during the period. KLA accounts for approximately 1.8% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 4th biggest position. Contravisory Investment Management Inc.’s holdings in KLA were worth $14,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KLAC. Wellington Management Group LLP grew its position in shares of KLA by 928.9% in the 2nd quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock valued at $4,471,832,000 after acquiring an additional 13,381,153 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of KLA during the 2nd quarter worth about $2,522,430,000. National Pension Service increased 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 during the last quarter. NEOS Investment Management LLC raised 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 purchasing an additional 889,269 shares during the period. Finally, Railway Pension Investments Ltd lifted its stake in KLA by 960.4% in the 2nd quarter. Railway Pension Investments Ltd now owns 926,652 shares of the semiconductor company’s stock valued at $279,580,000 after purchasing an additional 839,265 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

KLAC stock traded down $6.12 during mid-day trading on Tuesday, hitting $184.00. 10,449,497 shares of the company were exchanged, compared to its average volume of 11,056,614. KLA Corporation has a 1-year low of $99.86 and a 1-year high of $307.37. The stock has a market capitalization of $240.12 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.45. The business has a 50 day simple moving average of $187.96 and a 200-day simple moving average of $196.41. The company has a current ratio of 2.88, a quick ratio of 2.03 and a debt-to-equity ratio of 0.93.

KLA (NASDAQ:KLAC) last posted its 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. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.61 billion. KLA had a return on equity of 87.66% and a net margin of 35.57%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. On average, equities analysts forecast that KLA Corporation will post 5.43 earnings per share for the current year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.23 dividend. 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 annualized dividend and a yield of 0.5%. KLA’s dividend payout ratio is presently 25.07%.

Insider Transactions at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 4,504 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $195.50, for a total value of $880,532.00. Following the transaction, the chief accounting officer directly owned 7,972 shares of the company’s stock, valued at $1,558,526. This represents a 36.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard Wallace sold 72,019 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $171.88, for a total value of $12,378,625.72. Following the transaction, the chief executive officer owned 706,925 shares in the company, valued at $121,506,269. The trade was a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 243,339 shares of company stock valued at $46,903,454. Company insiders own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company set a $245.00 price target on KLA and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Susquehanna set a $215.00 price objective on KLA and gave the company a “neutral” rating in a research note on Wednesday, July 29th. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $195.00 price objective (down from $220.00) on shares of KLA in a research report on Wednesday, July 29th. Finally, 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. Eighteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.26.

About KLA

KLA Corporation (NASDAQ: KLAC) develops process-control and yield-management solutions used by semiconductor and electronics manufacturers. Its systems help customers detect defects, measure and analyze materials and structures, and monitor manufacturing processes throughout the production of integrated circuits and other advanced electronic components.

The company’s product portfolio includes inspection and metrology systems, wafer and reticle inspection equipment, process-control software, data analytics tools, and related services.