KLA Corporation $KLAC Stake Decreased by Legacy Trust

Legacy Trust lowered its position in shares of KLA Corporation (NASDAQ:KLAC) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,725 shares of the semiconductor company’s stock after selling 3,435 shares during the period. Legacy Trust’s holdings in KLA were worth $3,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of KLA by 928.9% during 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 purchasing an additional 13,381,153 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in KLA in the 2nd quarter worth approximately $2,522,430,000. Assenagon Asset Management S.A. boosted its stake in 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 worth $1,094,530,000 after buying an additional 3,959,927 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in KLA by 5.3% in the third quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock worth $997,000,000 after buying an additional 256,716 shares in the last quarter. Finally, National Pension Service boosted its stake in KLA by 899.4% in the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock worth $1,096,673,000 after buying an additional 3,271,158 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Stock Down 2.3%

Shares of NASDAQ KLAC opened at $157.30 on Friday. 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 Corporation has a 52 week low of $107.20 and a 52 week high of $307.37. The firm’s fifty day moving average is $173.40 and its 200 day moving average is $181.75. The company has a market cap of $204.96 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.32 and a beta of 1.49.

KLA (NASDAQ:KLAC) last announced its quarterly 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 business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.47 EPS. On average, equities research analysts expect that KLA Corporation will post 5.73 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. KLA’s dividend payout ratio (DPR) is presently 23.00%.

Insider Activity at KLA

In other news, CEO Richard Wallace sold 72,014 shares of KLA stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $149.02, for a total transaction of $10,731,526.28. Following the sale, the chief executive officer owned 634,911 shares of the company’s stock, valued at approximately $94,614,437.22. The trade was a 10.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on KLAC. Argus reissued a “buy” rating and set a $225.00 price target on shares of KLA in a research note on Friday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of KLA in a research note on Wednesday, July 29th. Cantor Fitzgerald set a $240.00 target price on shares of KLA and gave the company an “overweight” rating in a report on Thursday, October 29th. Wells Fargo & Company decreased their target price on shares of KLA from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price target on shares of KLA in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $220.35.

KLA Profile

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.