KLA Corporation $KLAC Stock Holdings Lowered by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. lessened its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,209 shares of the semiconductor company’s stock after selling 5,017 shares during the quarter. KLA accounts for approximately 1.8% of Contravisory Investment Management Inc.’s holdings, making the stock its 4th largest holding. Contravisory Investment Management Inc.’s holdings in KLA were worth $14,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in KLA by 928.9% in 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 acquiring an additional 13,381,153 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of KLA during the second quarter worth about $2,522,430,000. National Pension Service lifted its holdings 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 valued at $1,096,673,000 after purchasing an additional 3,271,158 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in shares of KLA by 987.0% during 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 in the last quarter. Finally, Railway Pension Investments Ltd grew its position in shares of 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 period. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KLA

In related news, CEO Richard Wallace sold 87,568 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total value of $17,421,653.60. Following the completion of the transaction, the chief executive officer owned 778,944 shares of the company’s stock, valued at approximately $154,970,908.80. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 4,504 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $195.50, for a total transaction of $880,532.00. Following the completion of the transaction, the chief accounting officer directly owned 7,972 shares of the company’s stock, valued at approximately $1,558,526. This trade represents a 36.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 243,339 shares of company stock worth $46,903,454. Company insiders own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of research reports. Bank of America increased their target price on KLA from $210.00 to $317.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of KLA from $200.00 to $238.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Oppenheimer reiterated an “outperform” rating and issued a $260.00 price target (up from $200.00) on shares of KLA in a report on Thursday, July 16th. Citigroup reiterated a “buy” rating on shares of KLA in a report on Wednesday, June 17th. Finally, Wells Fargo & Company set a $245.00 price objective on shares of KLA and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Eighteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.26.

KLA Stock Down 3.2%

NASDAQ KLAC traded down $6.12 during trading on Tuesday, hitting $184.00. The stock had a trading volume of 10,449,497 shares, compared to its average volume of 11,056,614. KLA Corporation has a 12 month low of $99.86 and a 12 month high of $307.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.03 and a current ratio of 2.88. The company’s 50-day moving average price is $187.96 and its two-hundred day moving average price is $196.41. The company has a market capitalization of $240.12 billion, a PE ratio of 50.18, a P/E/G ratio of 1.73 and a beta of 1.45.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.61 billion. KLA had a net margin of 35.57% and a return on equity of 87.66%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. As a group, sell-side analysts forecast that KLA Corporation will post 5.43 EPS for the current year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.23 per share. The ex-dividend date was Monday, August 17th. This is a positive change from KLA’s previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a yield of 0.5%. KLA’s dividend payout ratio is currently 25.07%.

KLA Company Profile

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.