KLA Corporation (NASDAQ:KLAC) Shares Sold by Continuum Advisory LLC

Continuum Advisory LLC reduced its position in shares of KLA Corporation (NASDAQ:KLAC) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 513 shares of the semiconductor company’s stock after selling 31 shares during the period. Continuum Advisory LLC’s holdings in KLA were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC increased its holdings in shares of KLA by 12.0% in the 4th quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 15 shares during the period. Avantax Planning Partners Inc. grew its position in KLA by 2.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 16 shares in the last quarter. Lockerman Financial Group Inc. increased its stake in KLA by 3.8% in the 1st quarter. Lockerman Financial Group Inc. now owns 438 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 16 shares during the period. Childress Capital Advisors LLC lifted its position in KLA by 3.3% in the 1st quarter. Childress Capital Advisors LLC now owns 495 shares of the semiconductor company’s stock worth $337,000 after buying an additional 16 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its stake in shares of KLA by 4.7% during the 1st quarter. Sunflower Bank N.A. now owns 381 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 17 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $889.03 on Wednesday. KLA Corporation has a fifty-two week low of $551.33 and a fifty-two week high of $914.83. The business has a 50-day moving average of $763.41 and a two-hundred day moving average of $719.49. The stock has a market capitalization of $117.57 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74.

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

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

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 0.85%. KLA’s payout ratio is currently 27.63%.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares of the company’s stock, valued at $21,291,492.34. The trade was a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer now directly owns 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KLAC shares. 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 note on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft lowered KLA from a “buy” rating to a “hold” rating and set a $790.00 target price on the stock. in a research report on Tuesday, May 20th. TD Cowen raised their price target on KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Jefferies Financial Group reissued a “hold” rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Finally, UBS Group increased their price objective on KLA from $690.00 to $740.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $815.39.

KLA Company Profile

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.