KLA Corporation (NASDAQ:KLAC) Shares Bought by Nilsine Partners LLC

Nilsine Partners LLC boosted its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,909 shares of the semiconductor company’s stock after acquiring an additional 641 shares during the period. Nilsine Partners LLC’s holdings in KLA were worth $4,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tortoise Investment Management LLC raised its position in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 36 shares during the last quarter. TCTC Holdings LLC acquired a new position in shares of KLA in the fourth quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of KLA in the fourth quarter valued at approximately $32,000. Fairfield Financial Advisors LTD raised its position in shares of KLA by 160.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 40 shares during the last quarter. Finally, Hurley Capital LLC acquired a new position in shares of KLA in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling

In other news, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the transaction, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer now owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,829 shares of company stock valued at $13,240,166 in the last quarter. Company insiders own 0.12% of the company’s stock.

KLA Stock Down 2.4%

Shares of NASDAQ:KLAC opened at $850.00 on Friday. The stock has a market capitalization of $112.40 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $914.83. The company’s fifty day moving average is $755.43 and its two-hundred day moving average is $715.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, topping analysts’ consensus estimates of $8.08 by $0.33. KLA had a net margin of 31.99% and a return on equity of 112.97%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company earned $5.26 EPS. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.

KLA declared that its board has authorized a stock buyback plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio (DPR) is 27.63%.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of KLA from $870.00 to $868.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. TD Securities upped their price target on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Oppenheimer upped their price target on shares of KLA from $740.00 to $950.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus upped their price target on shares of KLA from $750.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $807.06.

About KLA

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.